What is external benchmark based lending?
By IndianMoney , 8 months ago
IndianMoney
8 months ago
1. The Reserve Bank of India has decided in favour of external benchmark linked lending rates over the existing marginal cost of funds-based lending rate (MCLR) system. 2. However, cuts in the repo rate are meant to lead to cuts in home loan and other lending rates as banks get to borrow money cheaply from the RBI.
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