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The shares of Karnataka Bank were trading in positive territory on the back bank’s decision of reduction of one-year MCLR by 5 bps.
Karnataka Bank announced that it has reduced its one-year MCLR by 5 bps effective from September 1, 2017. With this reduction, the one-year MCLR of the bank stands at 8.85% per annum.
To support the women entrepreneurs, the bank has decreased the rate of interest on its KBL-Mahila Udyog Scheme to 9.90% effective from September 01, 2017. The bank is offering housing loan up to Rs 75 lakh at a competitive interest rate of 8.60% per annum (linked to 6 months MCLR of the bank).
Meanwhile, the stock was trading up by 0.86% at Rs 152 per share on BSE at 1008 hours. It opened at Rs 151.50 per share. The stock has attracted total traded volume of 1,27,164 shares and traded value of Rs 193.48 lakh on NSE at the same time.
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