UCO Bank Hikes Repo-Linked, T-Bill Linked Lending Rates

Kolkata: UCO Bank on Thursday raised its repo-linked, treasury bill-linked and government securities-linked benchmark lending rates, a day after the RBI hiked the policy repo rate by 25 basis points.

The Kolkata-headquartered public sector lender said its Asset Liability Management Committee (ALCO) reviewed the benchmark rates and decided on the revision, according to a regulatory filing to the stock exchanges. The revised rates are effective from October 8.

The bank raised its repo-linked lending rate (RLLR) for the UCO Float variant by 25 basis points to 8.30 per cent from 8.05 per cent, mirroring the RBI’s move. The UCO Prime variant was also increased by 25 basis points to 5.50 per cent from 5.25 per cent.

Treasury bill linked lending rates (TBLR) were hiked across tenors. The three-month TBLR was raised to 5.30 per cent from 5.25 per cent, the six-month rate to 5.70 per cent from 5.55 per cent and the 12-month rate to 5.95 per cent from 5.70 per cent.

The bank’s one-year G-Sec rate was revised to 6.26 per cent from 5.88 per cent. The 10-year G-Sec rate (yield to maturity, annualised, par yield) went up to 7.32 per cent from 7.09 per cent.

However, the bank kept its marginal cost of funds based lending rate (MCLR) unchanged across all tenors. The overnight MCLR stands at 7.90 per cent, one-month at 8.20 per cent, three-month at 8.45 per cent, six-month at 8.70 per cent and one-year at 8.80 per cent.

The base rate also remained at 9.60 per cent and the benchmark prime lending rate (BPLR) at 14.25 per cent.

The bank said the revised TBLR-linked rates, G-Sec-linked rates and repo-linked rate are effective from October 8, while the other benchmark rates remain unchanged.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)