Mumbai, February 08, 2018: The Save Bank will connect the base rate for advances given by banks to the MCLR from April 1, 2018 I.e. from the new money related year.
The Negligible Cost of Assets based Loaning Rates (MCLR) framework was presented on April 1, 2016 to handle the issues of the Base Rate administration.
With the presentation of the MCLR framework, it was normal that the current Base Rate connected advances and other credit exposures would likewise move to MCLR framework.
UNI
