Question
Consider the following statements regarding the marginal cost of funds-based lending rate (MCL
- R : 1. The Reserve Bank of India introduced the MCLR methodology by replacing the base rate structure. 2. Under the MCLR regime, banks are free to offer all categories of loans on fixed or floating interest rates. 3. Reserve Bank of India introduced the MCLR methodology for fixing interest rates from 1 April 2016. Which of the above statements is/are correct?
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