The Reserve Bank of India, (RBI) on February 28, 2023, issued a Press Release regarding the Lending and Deposit Rates of Scheduled Commercial Banks (excluding regional rural banks and small finance banks) for the month of February 2023
The following have been stated namely: -
• Lending Rates:
(i) It stated the weighted average lending rate (WALR) on fresh rupee loans of SCBs increased by 12 basis points (bps) from 8.88 percent in December 2022 to 9.00 percent in January 2023.
(ii) The WALR on outstanding rupee loans of SCBs increased by 6 bps from 9.52 percent in December 2022 to 9.58 percent in January 2023.
(iii) The 1-Year Median Marginal Cost of Fund-based Lending Rate (MCLR) of SCBs increased from 8.35 percent in January 2023 to 8.45 percent in February 2023.
• Deposit Rates:
(i) The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs increased by 12 bps from 5.78 percent in December 2022 to 5.90 percent in January 2023.
Disclaimer: please refer to the document to view the Lending and Deposit Rates of Scheduled Commercial Banks in detail
[Press Release 022-2023/1804]
