IDBI Bank cuts 1 year MCLR rate to 8.80%
Shital Jibhe / 06 Feb 2017
Industrial Development Bank of India, commonly abbreviated as IDBI, has cut its one year MCLR rate to 8.80 per cent. According to reports, the bank said that the reduction in MCLR is expected to positively impact loan growth.
Industrial Development Bank of India, commonly abbreviated as IDBI, has cut its one year MCLR rate to 8.80 per cent. According to reports, the bank said that the reduction in MCLR is expected to positively impact loan growth.
The banking stocks remained in focus, ahead of the sixth bi-monthly policy, which is scheduled on February 8.
However, on February 6, stocks of the IDBI Bank ended in red. In the last one year, the stock has surged by 46.58 per cent and outperformed Bankex index. IDBI Mutual Fund, Birla Sun Life Mutual Fund and Kotak Mahindra Mutual Fund are the top three fund houses which have invested in the stock of the bank.
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