What is MCLR? Understanding Its Impact on Loans and Interest Rates
Introduction Marginal Cost of Funds-Based Lending Rate (MCLR) is a benchmark interest rate used by banks to determine the minimum interest rate for lending. Introduced by the Reserve Bank of India (RBI) in 2016, MCLR replaced the earlier base rate system to ensure better transparency and efficiency in loan pricing. Understanding how MCLR impacts loans […]
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