Bank lendingrates dipped sequentially, while deposit rates rose, Reserve Bank of India (RBI) data published separately also showed.. The weighted average lending rate on fresh rupee loans of commercial banks was 9.37 per cent in September 2024 , down marginally from 9.41 per cent in August 2024.. The WALR on outstanding rupee loans was 9.90 per cent in September 2024 (9.91 per cent in August 2024).. The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs stood at 6.54 per cent in September 2024 as compared to 6.46 per cent in August 2024.. WADTDR on outstanding rupee term deposits was 6.95 percent in September 2024 from 6.93 per cent in August 2024). In response to the 250 bps hike in the policy repo rate since May 2022, banks have revised upwards their repo-linked external benchmark-based lending rates (EBLRs) by a similar magnitude. The median 1-year marginal cost of funds-based lending rate (MCLR) of SCBs has increased by 170 bps during May 2022 to September 2024 an analysis in the latest RBI monthly bulletin said.. Transmission across bank groups indicates that the increase in the WALR on fresh rupee loans was higher in the case of public sector banks (PSBs) visà-vis private banks; however, in the case of deposits, it was higher for PSBs during the same period. Nominations for ET MSME Awards are now open. The last day to apply is November 30, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award.. (You can now subscribe to our Economic Times WhatsApp channel)
