RBI Directs Banks to Link Loan Rates to External Benchmark
The Reserve Bank of India on 4th September, 2019, has made it mandatory for banks to link all new floating rate loans with an external benchmark from 1st October, 2019. Existing loans and credit limits linked to the Marginal Cost of Funds based Lending Rate (MCLR), Base Rate or Benchmark Prime Lending Rate (BPLR) should continue till repayment or renewal.
- Banks will have an option to benchmark the loans either to the RBI policy repo rate, Government of India three months or six months Treasury Bill yields or any other benchmark market interest rate published by the Financial Benchmarks India Pvt. ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 India’s Renewable Energy Capacity Crosses 200-GW Mark
- 2 New Guidelines to Boost India’s Seaweed Industry
- 3 India’s Hunt for Critical Minerals
- 4 Scheme Guidelines for ‘Innovative Projects’ under PM-Surya Ghar Yojana
- 5 Impact of DFCs on Indian Economy
- 6 IAPH Recognises Mormugao Port as an Incentive Provider
- 7 SEBI Proposes New Rules for Securitisation Activities
- 8 ANNA DARPAN: Modernizing Supply Chain Management System
- 9 21st Livestock Census Launched
- 10 National Mission on Edible Oils – Oilseeds
