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18 May 2022

SBI hikes MCLR by 10 basis points, second increase in a month; loan EMIs to go up

The country's largest lender State Bank of India has raised its marginal cost of funds based lending rate (MCLR) by 10 basis points or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers. This is the second hike in a month raising the cost by 0.2 per cent with the two consecutive increases.

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