UCO Bank has reduced its treasury bill linked lending rates (TBLR) from 6.75 per cent to 6.70 per cent, effective today, the bank announced through an exchange filing. The marginal cost lending rates, repo rate linked rate, BPLR and Base rate were however kept unchanged.
The bank in the regulatory filing said, "The Bank’s Asset Liability Management Committee (ALCO) has reviewed the Benchmark rates of the Bank and decided for revision in Treasury Bill Linked Lending Rates (TBLR) from 6.75% to 6.70%."
The bank's lending rates are in the range of 7.90-8.65%. The overnight MCLR was at 7.90 per cent and the one month MCLR at 8.10 per cent. The tenor of three month, six month and one year was at 8.25 per cent, 8.50 per cent and 8.65 per cent.
In June, the private bank had hiked the MCLR by 5 basis points for some tenures, while keeping the rates for three and six month tenures unchanged.
According to rules established by the Reserve Bank of India, banks must evaluate their lending rates every month in light of the marginal cost of capital.
UCO Bank shares
Shares of the bank on Thursday closed at Rs 27.75, up by 0.18 per cent.