As far as the youngest Bandhan Bank is concerned, it has cut its MCLR by 1.48 per cent to 10.52 per cent effective on Tuesday.
With this, the bank has cut its loan rate for small borrowers by almost 4 percentage points since it started operations in August 2015, Bandhan Bank said in a statement.
Oriental Bank of Commerce has reduced the one-year MCLR rate by 0.8 per cent to 8.60 per cent while Andhra Bank has brought it down by similar percentage point to 8.65 per cent effective on Tuesday.
