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DCB Bank increases MCLR rates

05-Sep-22 12:19 Hrs IST

The overnight MCLR increased from 8.62% to 8.72%, MCLR for one month rose from 8.62% to 8.72%. The interest rate on the three month MCLR was raised from 9.32% to 9.42%, followed by the six month MCLR rate increased from 9.52% to 9.62%. The one year MCLR rate was raised from 9.57% to 9.67%. The revised rates will be effective from 5 September 2022.

DCB Bank is a private sector bank with 400 branches across India. It is a scheduled commercial bank regulated by the Reserve Bank of India. The bank's standalone net profit jumped 187.8% to Rs 97.15 crore on 7.8% increase in total income to Rs 1,041.69 crore in Q1 FY23 over Q1 FY22.

Shares of DCB Bank rose 4.16% to Rs 96.50 on the BSE.

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