Overview
- In September 2024, the spread between the outstanding weighted average lending rate (WALR – Lending Rate) and the weighted average domestic term deposit rate (WADTDR – Deposit Rate) for scheduled commercial banks (SCBs) decreased by 3 basis points to 2.93%.
- The o/s PSB spread has been compressing over the past year, with a slight sequential decline of 1 bps, touching 2.14% as of September 2024, while the PVBs spread stood unchanged at 3.96%.
- Additionally, the SCBs’ ending Rate on o/s rupee loans fell by 1 bps and stood at 9.88%. In contrast, the deposit rate on o/s rupee term deposits rose by 2 bps and stood at 6.95%.
- Meanwhile, the one-year median Marginal Cost of Funds-based Lending Rate (MCLR) remained stable on a m-o-m basis, standing at 8.95% as of October 2024.
