Icici Bank Home and Auto Loan Emis expected to rise another 20 basis points Loan rate hikes on all terms, see latest rates here

ICICI Bank increased its marginal cost of lending rate (MCLR) by 20 basis points (bps) across all mandates. Earlier on June 1, the private lender had raised the MCLR rate by 30 basis points.

According to ICICI’s website, the one-night, one-month MCLR was increased to 7.50% from 7.30% last month. The three-month and six-month MCLR at ICICI Bank also increased to 7.55% and 7.70% respectively. The one-year MCLR climbed to 7.75%.

By 10 a.m. Friday, ICICI shares were down 1.69% at 695.27. Around 1:05 p.m., shares of the company gained but plunged another 0.61% to 702.55.
Recently, State Bank of India (SBI), HDFC Bank and ICICI Bank each acquired a 9.54% stake in Perfios Account Aggregation Services Private Limited (Perfios AA). These banks acquired 8,05,520 shares each by paying Rs 4.03 crore each for stakes.
Last week, on the International MSME Day, ICICI Lombard General Insurance Company announced that it will settle admissible claims of MSME customers up to Rs 5 lakh within 10 days of completing the investigation into claims. The claims process was the first service of its kind to enable faster claims settlement for MSMEs and startups, ICICI Lombard said in a statement.

(Edited by : Akriti Anand)

First post: STI

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