DCB Bank increases MCLR rate
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DCB Bank after the market hours on Friday announced an upward revision of marginal cost of funds based lending rate (MCLR) by 23 basis points across different tenors. The private sector bank revised the overnight MCLR from 8.28% to 8.51%, one month MCLR from 8.28% to 8.51%, three months MCLR from 8.98% to 9.21%, six months MCLR from 9.18% to 9.41% and one year MCLR from 9.23% to 9.46%. The revised rates will be effective from 6 June 2022.
DCB Bank is a private sector bank with 400 branches across India. It is a scheduled commercial bank regulated by the Reserve Bank of India. The bank's standalone net profit jumped 45.6% to Rs 113.44 crore on 7% increase in total income to Rs 1,034.71 crore in Q4 FY22 over Q4 FY21.
