Question
As per RBIās External Benchmark Based Lending
framework, how frequently must the interest rate linked to an external benchmark be reset?Solution
ā¢ RBIās circular on External Benchmark Based Lending (EBLR) mandates that interest rates on floating rate loans linked to external benchmarks must be reset at least once every three months. ā¢ This ensures that lending rates move in tandem with market interest rate changes, providing transparency and faster transmission of monetary policy. ā¢ Example: If a loan is linked to the RBI repo rate, and repo changes, the loan interest rate must reflect this change within one quarter.
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INADVERTENT
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