Chennai, March 13 -- The public sector Indian Overseas Bank (IOB) on Friday announced reduction in its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points with effect from March 15.
This followed a comprehensive review by the bank's Asset Liability Management Committee (ALCO) meeting on March 12 which reviewed the MCLR workings as of March 10, 2026, and approved a reduction in short-term borrowing costs to better align with current market dynamics.
Published by HT Digital Content Services with permission from United News of India....