Canara Bank has informed the Exchange regarding 'Revision in Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. 12.06.2026'.
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Canara Bank has informed the stock exchange about a revision in its Marginal Cost of Funds Based Lending Rate (MCLR), with the new rates taking effect from 12 June 2026. The MCLR is the benchmark interest rate below which the bank cannot lend, and it directly influences the interest rates on floating-rate loans such as home loans, personal loans, and corporate loans. This is a routine revision and typically happens quarterly or as needed based on changes in the bank's cost of funds, repo rate movements, and market conditions. The specific revised rates for different tenors were not detailed in the headline but would be available in the bank's detailed notification.
A revision in MCLR affects existing and new borrowers — if rates are raised, loan EMIs and interest costs increase for borrowers, while it may improve the bank's net interest margins; if cut, borrowers benefit but margins may compress. Investors should look at the detailed rate card to assess the direction of the change.