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Weighted average lending rate on fresh rupee loans of SCBs stand at 9.54% in Oct-24 compared 9.37% in Sep-24

The article from Business Standard discusses the rise in the weighted average lending rate (WALR) on fresh rupee loans by Scheduled Commercial Banks (SCBs) in India. According to the data released by the Reserve Bank of India (RBI), the WALR increased to 9.54% in October 2024 from 9.37% in September 2024. This uptick reflects the banks' response to the monetary policy adjustments and the broader economic environment, including inflation rates and liquidity conditions. The increase in lending rates could impact borrowing costs for consumers and businesses, potentially affecting investment and consumption patterns. The article also notes that this trend might continue if the RBI maintains its hawkish stance on inflation control.

Read the Full Business Standard Article at:
[ https://www.business-standard.com/markets/capital-market-news/weighted-average-lending-rate-on-fresh-rupee-loans-of-scbs-stand-at-9-54-in-oct-24-compared-9-37-in-sep-24-124113000291_1.html ]