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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The South Indian Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR), which is the internal benchmark rate used by the bank to price loans. The MCLR is reset periodically based on the bank's cost of funds, and changes affect interest rates on new floating-rate loans and renewals. The specific revised rates and effective date were not detailed in the headline. This is a routine announcement by banks linked to RBI's marginal cost-based lending framework.
For borrowers with MCLR-linked loans, EMIs or interest rates on new loans may change depending on the direction of the revision. For shareholders, this is a routine operational update with no direct material impact on earnings or stock price.