(d) Libya Q.3) Consider the following statements regarding Marginal Cost offund-based Lending Rates(MCLR): 1. MCLR is the basic minimum rate below which banks can’t lend. 2. RBI has established MCLR in 2016 as a tool for efficient Monetary policy transmission. 3. Increase in MCLR rates...
The Reserve Bank of India has placed the Punjab and Maharashtra Cooperative (PMC) Bank Limited, Mumbai, Maharashtra under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding 1,000 rupees of the total balance in every savings bank account or current...
The Reserve Bank of India (RBI) will link the base rate for loans with the marginal cost of funds-based lending rate (MCLR) from 1 April. RBI had introduced MCLR system with effect from April 1, 2016 to facilitate greater passing on of the benefit of reduction in policy rates to lending...