The South Indian Bank Limited has informed the Exchange regarding 'Change in Marginal Cost of Funds Based Lending Rates (MCLR) of the Bank.'.
SOUTHBANK · price
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South Indian Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR), which is the benchmark rate used to price most of the bank's loans. MCLR changes reflect shifts in the bank's cost of raising funds from deposits and borrowings. The exact new rates across various tenors have not been detailed in the headline and would typically be disclosed in the bank's filing. This is a periodic revision and applies to existing and new floating-rate borrowers.
A revised MCLR directly affects borrowing costs for the bank's loan customers and influences the bank's net interest margins. For shareholders, the direction and magnitude of the change relative to peers can affect profitability, though routine MCLR revisions by themselves have limited impact on stock price.