According to the guidelines in India, how often should banks review and revise their Marginal Cost of Funds based Lending Rate (MCL

Review of MCLR •  Banks shall review and publish their Marginal Cost of Funds based Lending Rate (MCLR) of different maturities      every month on a pre-announced date with the approval of the Board or any other committee to which powers          have been delegated. •  Banks which do not have adequate systems to carry out the review of MCLR on a monthly basis, shall review           their rates once a quarter on a pre-announced date for the first one year i.e. upto March 31, 2017 and adopt the           monthly review thereafter.