Syndicate Bank cuts lending rate by 5-10 bps

Syndicate Bank has revised the marginal cost of funds-based lending rates (MCLR) and has slashed the lending rates by 5-10 bps. It has slashed the six-month MCLR by 5 bps and one-year MCLR by 10 bps, while it has not made any changes in the base rate and BPLR.
 
The tenor-wise MCLR of the bank is revised with effect from August 10, 2017, said the bank in a BSE filing on Wednesday. 
 
Syndicate Bank was trading at Rs 69.20 per share, down by Rs 0.40 or 0.57% on Wednesday, on the BSE. The stock hit its intraday high and low of Rs 70 and Rs 68.70, respectively.  The stock attracted traded volume of 13,40,028 shares and traded value of Rs 928.37 lakh on the NSE.