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Which of the following is/are the benefit(s) of MCLR?
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Which of the following is/are the benefit(s) of MCLR?
1). MCLR revised on monthly basis benefiting bank customers especially borrowers
2). Banks to compete with the commercial paper market
3). Reduces borrowing cost for companies
4). Indian banking industry moves towards international standards
1 answers
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The Reserve bank of India (RBI) introduced the MCLR methodology for fixing interest rates for advances effective from April 1, 2016.
- The following are the benefits of MCLR:
- MCLR revised on monthly basis benefiting bank customers especially borrowers
- Banks to compete with commercial paper market
- Reduces borrowing cost for companies
- Indian banking industry moves towards international standards
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