Financial Daily from THE HINDU group of publications
Tuesday, Nov 08, 2005
Financial Daily from THE HINDU group of publications Tuesday, Nov 08, 2005 |
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Money & Banking
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Interest Rates `Review prime lending rate system' Our Bureau
Pune, Nov. 7 Dr Rakesh Mohan said the RBI has asked the Indian Banks Association (IBA) to review the benchmark prime lending rate (BPLR) system and issue transparent guidelines for appropriate pricingof credit. He said at present the proportion of lending below the BPLR ranged from 60 to 80 per cent and the IBA members were not fully following the issue. He said the IBA has said it would review the current system in consultation with the member banks and issue the guidelines, which would be reverted to the RBI and appropriate steps taken. It may be recalled that in the mid-term review of the monetary policy, Dr Y. V. Reddy, RBI Governor, had called in for the review as suggested by the bankers.
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