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1. Marginal Cost of Funds based Lending Rate (MCLR) has replaced the base rate system. 2. Marginal cost of funds is a key component in calculating MCLR. Changes in key rates like repo rate, which alter marginal cost of funds, will impact MCLR. Thus MCLR will help in faster transmission for monetary policy 3. MCLR is a tenure-based benchmark, not a single rate. Banks have to publish at least five MCLR rates across the overnight, one-month, three-month, six-month and one-year tenures. 4. The final lending rate offered by the banks is arrived at by adding the 'spread' to the MCLR rate. 5. All floating rate loans are linked to MCLR. 6. Existing borrowers with loans linked to base rate can continue with them till maturity or switch to the MCLR system. However, once a borrower opts for MCLR, they can't switch back.
The primary categories of insurance business in India are:
Which Insurance is a compulsory insurance plan administered by a government agency with the primary emphasis on social adequacy?
The Motor Vehicles Act, 1988 requires what document as proof of insurance?
Which of the following is NOT a duty of an insured after an auto accident covered under the Personal Auto Policy (PAP)?
The process of determining the cost of an insurance policy based on the actual loss experience determined as an adjustment to the initial premium paymen...
The Insurance Regulatory and Development Authority (IRDAI) was formed on the recommendation of which committee?
Shagun gift is an insurance policy. It has been launched by_________.
What is the main role of an insurance underwriter?
A comprehensive motor insurance policy covers:
The 'Act Only' policy covers: