Banks may increase loan interest rate by 100-150 bps in FY24 amid tightening liquidity: Ind-Ra

Mumbai (Maharashtra) [India], March 14 (ANI): India Ratings and Research (Ind-Ra) on Tuesday said it expects bank marginal cost of funds-based lending rate (MCLR) to increase by 100-150 bps year-on-year (yoy) in FY24. The rating agency opines that the transmission of monetary policy in the banking system could intensify in FY24 driven by the sharp rise in bank's marginal cost of funding.

MCLR is the minimum lending rate b