In September 2025, several banks, including Bank of Baroda and Indian Overseas Bank, adjusted their Marginal Cost of Funds-based Lending Rates (MCLR). BoB reduced overnight and three-month MCLR, while IOB lowered overnight, one-year, two-year, and three-year rates. IDBI Bank also announced its updated MCLR rates across various tenors, effective September 12, 2025.