The Reserve Bank of India (RBI) on November 01, 2023, issued a notification regarding Lending and Deposit Rates of Scheduled Commercial Banks in October 2023.
Lending Rates:
•The weighted average lending rate (WALR) on fresh rupee loans of SCBs was at 9.38 percent in September 2023 (9.47 percent in August 2023).
•The WALR on outstanding rupee loans of SCBs moved to 9.83 percent in September 2023 from 9.84 in August 2023.1
•1-Year median Marginal Cost of Fund based Lending Rate (MCLR) of SCBs remained unchanged at 8.70 percent in October 2023.
Deposit Rates:
•The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs moved to 6.32 percent in September 2023 from 6.33 per August 2023.
•The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs was at 6.69 percent in September 2023 (6.60 percent in August 2023).
[Notification No. 2023-2024/1221]
