Introduction of Repo Rate linked loan products - w.e.f. 01.10.2019
Corporation Bank has introduced an external benchmark linked Personal, Retail and Micro & Small Enterprises loan product in the bank as per the RBI Guidelines dated September 04, 2019. RBI’s repo rate has been selected as the external benchmark for this purpose.
The bank has decided to link all new floating rate loans to retail, personal segment and Micro & Small Enterprises (MSE), to Reserve Bank of India’s policy Repo Rate with effect from 01.10.2019.