Investors in India’s credit market turned bullish as corporate credit worries faded after companies took advantage of easy liquidity during the pandemic to clean up their balance sheets. Even the bad-loan ratio of Indian banks is at seven-year low following steps to clean up what was once the world’s worst debt pile.
HDFC Bank cuts MCLR by 5 bps, Bank of Baroda raises 3-month rate by 10 bps
HDFC Bank reduced its lending rates by five basis points across maturities. Bank of Baroda will increase its three-month lending rate by ten basis points.