The Reserve Bank of India (RBI) on August 30, 2024, issued the notification regarding the Lending and Deposit Rates of Scheduled Commercial Banks for August 2024.
The following has been stated namely: -
• The weighted average lending rate (WALR) on fresh rupee loans of SCBs stood at 9.40 per cent in July 2024 (9.32 per cent in June 2024).
• The WALR on outstanding rupee loans of SCBs was placed at 9.91 per cent in July 2024.
• 1-Year median marginal cost of fund-based lending rate (MCLR) of SCBs remained unchanged at 8.90 per cent in August 2024(8.85 per cent in July 2024).
• The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs stood at 6.48 per cent in July 2024 compared to 6.46 per cent in June 2024.
• The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs was at 6.92 per cent in July 2024 (6.91 per cent in June 2024).
[Press Release: 2024-2025/1012]
