Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of August 2023.

Highlights:

Lending Rates:

• The weighted average lending rate (WALR) on fresh rupee loans of SCBs increased by 24 basis points (bps) from 9.20 per cent in June 2023 to 9.44 per cent in July 2023.

• The WALR on outstanding rupee loans of SCBs increased by 2 bps from 9.82 per cent in June 2023 to 9.84 per cent in July 2023.¹

• 1-Year median Marginal Cost of Fund based Lending Rate (MCLR) of SCBs decreased from 8.63 per cent in July 2023 to 8.60 per cent in August 2023.

Deposit Rates:

• The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs increased by 1 bp from 6.34 per cent in June 2023 to 6.35 per cent in July 2023.

• The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs increased by 7 bps from 6.47 per cent in June 2023 to 6.54 per cent in July 2023.¹

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/846

¹ Data exclude the impact of the merger of a non-bank with a bank.