RBI proposes 3-month MCLR reset for loans: What could change for borrowers and their monthly EMIs
· livemint.com
RBI has proposed a new MCLR formula using a three-month moving average of banks’ marginal funding costs. The draft also proposes a three-month reset period for MCLR-linked loans and aims to make loan pricing more transparent.
The Reserve Bank of India (RBI) has proposed a new methodology for calculating the Marginal Cost of Funds Based Lending Rate (MCLR), under which banks would use...