At present, banks were pricing loans as per MCLR framework but report of the RBI constituted an Internal Study Group recommended that the transmission of policy rate changes under the current MCLR framework has not been satisfactory. 6 - India Post Payments Bank announced rollout of AEPs at the...
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...