Why benchmark plr is in news recently

Home loan borrowers can look forward to a fairer deal from banks after a Reserve Bank of India RBI panel has proposed a transparent pricing structure for floating rate loans. The new PLR will be effective May 1, Foreign lender Citibank cut its benchmark lending rate by 25 basis points to Punjab National Bank on Monday said there is little scope for reduction in prime lending rate in the present circumstances.

Some public sector banks PSBs are understood not to be passing on the benefits of PLR reductions to their sub-PLR corporate borrowers in order to protect their interests. Vijaya Bank has brought down its benchmark lending rate by 75 basis points from 14 per cent to State Bank of India on Thursday said that it has decided to reduce both its lending and deposit rates.

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Honouring Exemplary Boards. Deep Dive Into Cryptocurrency. ET Markets Conclave — Cryptocurrency. Reshape Tomorrow Tomorrow is different. Let's reshape it today. All 52 participants in a Reuters survey had expected a reduction in the LPR at its monthly fixing. The five-year LPR was lowered by 5 basis points to 4. The rate cut by the largest mortgage lender comes following a cumulative 1. The base rate has been kept unchanged at 9. India's largest lender SBI has increased the lending rate by 10 basis points across all tenors up to three years.

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ET Financial Inclusion Summit. Malaria Mukt Bharat. Wealth Wise Series How they can help in wealth creation. Honouring Exemplary Boards. It further said that banks are free to offer such external benchmark-linked loans to other types of borrowers as well. In another decision, the RBI issued final guidelines regarding stipulating a mandatory loan component in working capital finance for borrowers.

With a view to promoting greater credit discipline among working capital borrowers, the RBI had earlier proposed to stipulate a minimum level of 'loan component' in fund-based working capital finance for larger borrowers.

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