MCLR

State Bank of India (SBI), being the country's largest money lender has increased its marginal cost of funds based lending rate (MCLR), on April 19. The rate has been increased by 10 basis points (bps), or simply 0.1% across all tenures. Eventually, it is believed that all lenders are likely to follow the revised lending rate, in the days to come. With this, the EMIs will now cost more.