All bank loans, including home loans, taken are now linked to the bank's marginal cost of funds based lending rate (MCLR). MCLR has been effective from?

January 1, 2016

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September 1, 2015

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April 1, 2015

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April 1, 2016

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None of these

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Solution

The correct option is D April 1, 2016
MCLR has been effective from April 1, 2016.

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Similar questions

Q. Q. With reference to the ‘marginal cost of funds-based lending rate (MCLR)’ which of the following statements is/are correct?Select the correct answer using the codes given below:

1 only
1 and 2 only
2 and 3 only
1, 2 and 3

Q. Q. Which of the following statements is/are correct regarding the External benchmark linked lending rate? Select the correct answer using the codes given below:

Q. बाहरी बेंचमार्क-आधारित उधार दर (External benchmark linked lending rate) के संबंध में निम्नलिखित कथनों में से कौन सा/से सही है / हैं?

भारतीय रिजर्व बैंक ने बैंकों को एक साथ चार बाहरी बेंचमार्क का उपयोग करके नए ऋण देने के लिए अधिदिष्ट किया है।
बाह्य बेंचमार्क प्रणाली की शुरुआत के पहले से मौजूद ऋणों के लिए कोष की सीमांत लागत आधारित ऋण दर (Marginal Cost of Funds Based Lending Rate-MCLR) से एक नयी व्यवस्था में स्थानांतरित होना अनिवार्य नहीं है।

निम्नलिखित कूटों का उपयोग करके सही उत्तर चुनिए:

1 only
केवल 1
Neither 1 nor 2
न तो 1 न ही 2
2 only
केवल 2
Both 1 and 2
1 और 2 दोनों

Q. 64. In reference to MCLR, Consider the following statements
1.Banks prepare Marginal Cost of Funds based Lending Rate (MCLR) which is the internal benchmark lending rates.
2. Based on this rate, interest rate for different types of customers is being fixed in accordance with their riskiness.
Which of the above statement(s) is/are correct?

The prime lending rate is a key rate in the economy:not only are the interest rates on most loans to small and medium-sized businesses tied to the prime, but also ona growing number of consumer loans, including home equity loans.

Q. The cost of bank credit is determined in India by a system of benchmark prime lending rate which is charged by a bank to the most creditworthy customers, and all bank loans are given at a rate equal to or higher than the benchmark prime lending rate. What determines this rate of interest?

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All bank loans, including home loans, taken are now linked to the bank's marginal cost of funds based lending rate (MCLR). MCLR has been effective from?

The correct option is D April 1, 2016MCLR has been effective from April 1, 2016.

The correct option is D April 1, 2016
MCLR has been effective from April 1, 2016.