Indian Bank has announced a reduction in Treasury Bill Linked Landing Rates (TBLR). The bank announced the reduction in rates on Saturday night. In a statement to the stock market on November 2, the bank said that the bank's Asset Liability Management Committee has reviewed the Marginal Cost of Fund Based Landing Rates (MCLR), Treasury Bill Linked Landing Rates (TBLR), Base Rate and Benchmark Prime Landing Rates (BPLR) and has decided to change the TBLR. The new rates have come into effect from November 3.

What are the new rates?

According to the information given by the bank, TBLR for a period of less than 3 months has been reduced from 6.6% to 6.45%. TBLR for a period of more than 3 months and less than 6 months has been reduced from 6.65% to 6.55%. TBLR for a period of more than 6 months and less than 1 year has been reduced from 6.65% to 6.55%. TBLR for a period of more than one year and less than 3 years has been reduced from 6.65% to 6.55%. MCLR for a period of overnight to 1 year has been kept stable between 8.25% to 9%. Base rates have been kept stable at 9.85%. BPLR is stable at 14.1%. How was the stock performance? Indian Bank closed at 583.9 with a decline of 1.23% in the last session. The stock's highest level of the year is 626.35. Which was seen in June this year. The highest level of the year is 391.25. Which was recorded at the end of November last year. A year ago, the stock was trading below the level of 450.