Question
RBI mandated use of external benchmarks for pricing of
certain loans like retail and MSME loans. I n how many months is the interest rate to be reset at least once under the external benchmarking mechanism? ĀSolution
Banks are required to extend floating rate loans to Retail and MSME borrowers with reference to external benchmark lending rates only.Ā Ā The external benchmarks that may be considered for loans areĀ Ā
- Reserve Bank of India policy Repo Rate or Ā
- Government of India 3-Months and 6-Months Treasury Bill yields published by FBIL orĀ Ā
- a ny other benchmark market interest rate published by FBIL.Ā Ā
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