Allahabad Bank has decreased the interest rate on external benchmark-linked products by 40 basis points. The three-month Mumbai Interbank Offered Rate was reduced from 6.15 per cent to 5.75 per cent. This will be effective from March 1, 2020, the bank said in a regulatory filing.
Reserve Bank of India’s repo rate remains unchanged at 5.15 per cent, while the three-month Mumbai Interbank Offered Rate stands reduced.
