The Reserve Bank of India (RBI) on August 31, 2023, issued the Lending and Deposit Rates of Scheduled Commercial Banks - August 2023
The following has been stated namely: -
Lending Rates:
The weighted average lending rate (WALR) on fresh rupee loans of SCBs increased by 24 basis points (bps) from 9.20 percent in June 2023 to 9.44 percent in July 2023.
The WALR on outstanding rupee loans of SCBs increased by 2 bps from 9.82 percent in June 2023 to 9.84 percent in July 2023.1
1-Year median Marginal Cost of fund-based Lending Rate (MCLR) of SCBs decreased from 8.63 percent in July 2023 to 8.60 percent in August 2023.
Deposit Rates:
The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs increased by 1 bp from 6.34 percent in June 2023 to 6.35 percent in July 2023.
The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs increased by 7 bps from 6.47 percent in June 2023 to 6.54 percent in July 2023.
[Press Release 2023-2024/846
