Tamilnad Mercantile Bank Limited has informed the Exchange about the Revision in Marginal Cost of Funds Based Lending Rate (MCLR) of the Bank
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Tamilnad Mercantile Bank has informed the stock exchange about a revision in its Marginal Cost of Funds Based Lending Rate (MCLR). MCLR is the benchmark rate below which banks generally cannot lend. The bank periodically reviews and revises this rate based on changes in its cost of funds, operating costs, and tenor premium. The exact revised MCLR slab-wise details are filed with the exchange.
An MCLR revision directly impacts the interest rates on new floating-rate loans (home, personal, and corporate) linked to this benchmark. Existing MCLR-linked borrowers will see changes at their next reset date. This is a routine internal pricing decision and does not materially affect shareholder value or stock price on its own.