Allahabad Bank has reduced its marginal cost of lending rate (MCLR) by 5 basis points across all tenors from December 1. The MCLR for a one-year tenor will now reduce by 5 basis points to 8.25 per cent. Further, the bank has also reduced the base rate and benchmark prime lending rate (BPLR) by 10 basis points to 9.6 per cent and 13.85 per cent, respectively. These moves could result in lower b...