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The bank has raised marginal cost of funds based lending rate (MCLR) by 0.1 per cent to 8.40 per cent for 1-year tenure. The hike will increase interest rates on home and other loans linked to one-year MCLR by 10 basis points.
The revised rates are effective from tomorrow (7th April 2018).
About Bank of Baroda :
About Bank of Baroda :
- Headquarters : Vadodara (Gujarat)
- Chairman : Ravi Venkatesan
- MD & CEO : P. S. Jayakumar
- Established on : 20th July 1908
- Founder : H. H. Sir Sayajirao Gaekwad III
- Total Branches : 5481
Important Note : In it's 1st monetary policy meeting of the new fiscal year 2018-19, the Reserve Bank of India (RBI) yesterday kept the Repo Rate unchanged at 6% for the 4th time in a row. The reverse repo rate remains at 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25%.
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