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Axis Bank hikes MCLR by 5 bps across tenors, follows other lenders

Axis Bank has increased its marginal cost of funds-based lending rate (MCLR) by 5 basis points (bps) across tenors from August 18. The private lender revised its lending rate after the central bank’s monetary policy committee (MPC) on August 5 increased benchmark policy rates by 50 bps earlier this month, taking the …

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