Lending and Deposit Rates of Scheduled Commercial Banks as of November 2024 [PDF]

The Reserve Bank of India (RBI) has released data on the lending and deposit rates of Scheduled Commercial Banks (SCBs), excluding Regional Rural Banks (RRBs) and Small Finance Banks (SFBs), for the month of November 2024. The report highlights key trends in weighted average rates and marginal cost-based rates across lending and deposit activities.

Lending Rates:

1. Weighted Average Lending Rate (WALR) on Fresh Loans:
   • The WALR for fresh rupee loans increased to 9.54% in October 2024, up from 9.37% in September 2024.
2. WALR on Outstanding Loans:
   • The WALR for outstanding rupee loans remained unchanged at 9.90% in October 2024 compared to September 2024.
3. 1-Year Median MCLR:
   • The 1-year median Marginal Cost of Fund-Based Lending Rate (MCLR) rose slightly to 9.00% in November 2024, compared to 8.95% in October 2024.

Deposit Rates:

1. Weighted Average Domestic Term Deposit Rate (WADTDR) on Fresh Deposits:
   • The WADTDR for fresh rupee term deposits dropped to 6.44% in October 2024, down from 6.54% in September 2024.
2. WADTDR on Outstanding Term Deposits:
   • The WADTDR for outstanding rupee term deposits remained steady at 6.96% in October 2024, a slight increase from 6.95% in September 2024.

These trends reflect ongoing adjustments in lending and deposit activities by SCBs amidst evolving economic conditions.

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