The revised TBLR rates take effect from Sunday (November 3).
Revised TBLR rates
- For less than 3 months: Reduced from 6.6% to 6.45%.
- For 3 to 6 months: Lowered from 6.65% to 6.55%.
- For 6 months to 1 year: Cut from 6.65% to 6.55%.
- For 1 to 3 years: Reduced from 6.65% to 6.55%.
Other rates remain unchanged. The MCLR for overnight to 1-year terms is steady at 8.25%-9%.
The Base Rate holds at 9.85%, while the BPLR stays at 14.1%.
For the unversed, Treasury Bill-Linked Lending Rates (TBLR) are lending rates that banks link to the yields of government treasury bills (T-bills), specifically short-term debt securities issued by the government to meet its immediate funding needs.
The TBLR is tied to the rates on these T-bills, usually with 91-day, 182-day, or 364-day maturities, which reflect the cost of borrowing for the government in the short term.
Stock performance
Indian Bank’s stock closed at ₹583.9, down 1.23% in the last session. Its highest level this year was ₹626.35, reached in June, while the lowest level was ₹391.25 in November last year.