Weighted average lending rate on fresh rupee loans stood at 9.37% in March 2024

Reserve Bank of India stated in a latest update that the weighted average lending rate (WALR) on fresh rupee loans of scheduled commercial banks (SCBs) stood at 9.37 per cent in March 2024 (9.36 per cent in February 2024). The WALR on outstanding rupee loans of SCBs was at 9.85 per cent in March 2024 (9.83 per cent in February 2024). The 1-Year median Marginal Cost of Fund based Lending Rate of SCBs moved to 8.85 per cent in April 2024 from 8.80 per cent in March. The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs increased to 6.62 per cent in March 2024 from 6.44 per cent in February 2024. The WADTDR on outstanding rupee term deposits of SCBs was at 6.88 per cent in March 2024 (6.86 per cent in February 2024).

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