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SBI, ICICI Bank raise MCLRs ahead of RBI policy review

State Bank of India (SBI), ICICI Bank and Union Bank of India raised their marginal cost of funds-based lending rates (MCLRs) on Friday, days ahead of the Reserve Bank of India’s (RBI) monetary policy review. On Thursday, Punjab National Bank (PNB) had raised MCLRs by 5-10 basis points (bps), with the one-year MCLR rising to