Business Update11 Jun 2025, 05:33 pm
Indian Overseas Bank Reduces Repo Linked Lending Rate by 50 bps
AI Summary
In its MPC meeting from 04.06.2025 to 06.06.2025, the Reserve Bank of India (RBI) decided to reduce the Repo Rate by 50 basis points. Consequently, Indian Overseas Bank has decided to reduce its External Benchmark Lending Rate (EBLR) by 50 bps, effective from 12.06.2025. The new rates are as follows: Repo Linked Lending Rate (RLLR) from 8.85% to 8.35%, and Repo Rate from 6.00% to 5.50%.
Key Highlights
- RBI reduces Repo Rate by 50 bps
- Indian Overseas Bank reduces EBLR by 50 bps
- New RLLR: 8.35%
- New Repo Rate: 5.50%
- Effective from 12.06.2025