WALR was 9.44 per cent in July 2023 which increased to 9.47 per cent in August
Weighted average lending rate (WALR) on fresh rupee loans of Scheduled Commercial Banks (SCBs) increased by 3 basis points (bps) from 9.44 per cent in July 2023 to 9.47 per cent in August 2023, Reserve Bank of India (RBI) said in its recent report.
The share of External Benchmark based Lending Rate (EBLR) linked loans in total outstanding floating rate rupee loans of Scheduled Commercial Banks(SCBs) stood at 50.2 per cent at end-June 2023 while that of MCLR linked loans was 44.8 per cent, indicating seamless lending by banks.
One-year median Marginal Cost of fund-based Lending Rate (MCLR) of SCBs increased from 8.60 per cent in August 2023 to 8.70 per cent in September 2023.
“The WALR on outstanding rupee loans of SCBs has remained unchanged at 9.84 per cent in August 2023 compared to the previous month,” RBI cited in its report. Though the WALR increased by 3 basis points, the weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs increased by 1 bp from 6.35 per cent in July 2023 to 6.36 per cent in August 2023.
“The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs increased by 6 bps from 6.54 per cent in July 2023 to 6.60 per cent in August 2023,” RBI added.