On Monday, while SBI cut its one-year MCLR by 10 bps to 7.90 percent, HDFC Bank did a 15 bps cut to 8.15 percent, and Bank of India reduced the same by 20 bps to 8.20 percent.

There is a 20 bps reduction in overnight and one-month MCLR from 7.85 per cent to 7.65 per cent and a 10 bps reduction in three-month and six-month MCLR, from 7.9 per cent to 7.8 per cent, and from 8.2 per cent to 8.1 per cent, respectively.

With this, BoB’s overnight and one-month rates are down 20 bps to 7.65 percent now.

It has also reduced by 10 bps in three-months and six months MCLR to 7.80 percent and 8.10 percent, respectively