Canara Bank retains RLLR at 8.05 per cent for MSME customers

Mumbai, Jan 7 (KNN) Canara Bank as per the bank stock exchange filing has retained its Repo Rate Linked Lending Rate (RLLR) for Retail Loans (Housing, Auto, Etc.) and Micro, Small and Medium Enterprises (MSME) at 8.05 percent.  

Canara Bank also said that its Base Rate will remain at 9.10 percent from January 7th.

Starting October 1, banks were required to link their floating rate loans to any of the 4 external benchmarks: 1) RBI's repo rate 2) Government's 3-month treasury bill yield 3)Government's 6-month treasury bill yield 4)any benchmark market interest rate published by Financial Benchmarks India Limited (FBIL).

At its latest monetary policy review (on December 6th), RBI left its repo and reverse repo rates unchanged at 5.15 per cent and 4.90 per cent, respectively. The RLLR set by banks includes margin charged by the bank based on various factors in addition to the repo rate.

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