New Delhi [भारत]June 30 (ANI): Scheduled commercial banks (SCBs) have cut their benchmark lending rates in June, according to a statement by the Reserve Bank of India (RBI). During this period, the one-year average marginal cost-based lending rate (MCLR) fell to 8.50 per cent.
The RBI on Tuesday released data on lending and deposit rates of scheduled commercial banks (SCBs), which exclude regional rural banks and small finance banks, for June 2026. According to RBI, lending rates on rupee denominated loans, both new and outstanding, showed a mixed trend across sectors during May.
The weighted average lending rate (WALR) on new rupee loans of SCBs stood at 8.51 percent in May 2026, compared to 8.50 percent in April 2026. Meanwhile, during the same period, WALR on outstanding rupee loans declined marginally from 8.98 percent to 8.97 percent.
"At the same time, the one-year average marginal cost-based lending rate (MCLR) of SCBs stood at 8.50 percent in June 2026 (8.65 percent in May 2026)," the statement said.
The data also shows that the trend towards loans linked to external benchmarks is continuously increasing. The share of External Benchmark-Based Lending Rate (EBLR) linked loans in the total outstanding floating-rate rupee loans of SCBs increased to 67.6 per cent at the end of March 2026 from 65.5 per cent at the end of December 2025.
"MCLR linked loans stood at 30.2 per cent (32.0 per cent at end-December 2025)," the release said.
On the deposit side, the weighted average domestic term deposit rate (WADTDR) on new rupee term deposits increased to 5.84 per cent in May 2026, compared to 5.79 per cent in April.
"WADTDR on outstanding rupee term deposits of SCBs reduced to 6.57 per cent in May 2026 from 6.59 per cent in April 2026," the release said. (ANI)
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