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HDFC Bank cuts MCLR by 5 bps as lower funding costs aid repricing
HDFC Bank cuts MCLR by 5 bps, passing on lower funding costs to borrowers, enhancing competitive lending rates.
TL;DRAI
HDFC Bank cuts MCLR by 5 bps (Aug 7) on lower FCNR(B) deposits costs ($1.4B mobilized) and repricing of domestic deposits. Lower borrowing costs expand corporate capex capacity for cloud/AI stack investments amid easing credit conditions.
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