Question
As per RBI’s External Benchmark Based Lending
framework, how frequently must the interest rate linked to an external benchmark be reset?Solution
• RBI’s 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. • This ensures that lending rates move in tandem with market interest rate changes, providing transparency and faster transmission of monetary policy. • 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.
Replace the word against number 26 with the correct option from the given options below:
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