Question

Consider the following statements about Marginal Cost of Funds based Lending Rate (MCL

  • R : (1) It was introduced in the year 2010 (2) It is the lowest rate of fund lending and no bank is permitted to lend below this rate. (3) It has replaced the earlier Base Rate System Which of the statements given above is/are correct?
A Only 1
B Only 2
C Only 3
D Both 1 or 3
E All are correct
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