Under the new rates, retrospectively effective from October 1, the one-month MCLR will be 8.85 percent as against 8.90 percent earlier, the bank said in statement
Within hours of RBI's surprise cut in the key policy rate, private sector lender ICICI Bank this evening took the lead with a 0.05 percent reduction in its marginal cost of funds-based lending rate to 9.05 percent.
