Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of October 2023 are set out in Tables 1 to 7.

Highlights:

Lending Rates:

• The weighted average lending rate (WALR) on fresh rupee loans of SCBs was at 9.38 per cent in September 2023 (9.47 per cent in August 2023).

• The WALR on outstanding rupee loans of SCBs moved to 9.83 per cent in September 2023 from 9.84 in August 2023.¹

• 1-Year median Marginal Cost of Fund based Lending Rate (MCLR) of SCBs remained unchanged at 8.70 per cent in October 2023.

Deposit Rates:

• The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs moved to 6.32 per cent in September 2023 from 6.33 per August 2023.

• The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs was at 6.69 per cent in September 2023 (6.60 per cent in August 2023).¹

Shweta Sharma     
Deputy General Manager

Press Release: 2023-2024/1221

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