Tamilnad Mercantile Bank Limited has informed the Exchange about the Revision in Repo Linked Lending Rate (RLLR) of the Bank
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Tamilnad Mercantile Bank has informed the stock exchange about a revision in its Repo Linked Lending Rate (RLLR). The RLLR is the benchmark rate linked to the RBI's repo rate, used to price floating-rate loans such as home loans and personal loans. The bank has not disclosed the new rate or the direction of the change in the headline. This is a routine update typically issued whenever the bank revises its lending benchmark in line with changes in RBI's policy repo rate.
A change in RLLR will affect the interest rates on new floating-rate loans for borrowers and the bank's lending margins. Existing borrowers may see changes in their EMI amounts after the next reset cycle. The impact on the stock depends on whether the rate was hiked or cut and how it aligns with peer banks.