MCLR hike may not be sufficient for banks; SBI stock rises 1.1%

The stock of State Bank of India (SBI) was up 1.1 per cent intra-day due to the 20 basis points hike in marginal cost of funds-based lending rate (MCLR) from September 1.  The hike, which was decided upon due to rising cost of funds and the hardening of policy rates, was not limited to India’s largest bank.  Other banks such as ICICI Bank and Axis Bank, too, increased their MCLR.  Though the rise in MCLR should add to the topline and profitability of banks, there are couple of factors that would impact this, say experts. The new MCLR will, according.....

Key stories on are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.