About this document
New Base Rate System for Indian Loans by Sangram Panda is a document available to read on EtoBox.
Indian banks will be required to switch to a new base rate system for pricing loans starting July 1st, as directed by the Reserve Bank of India. The base rate will replace the existing benchmark prime lending rate system and will serve as the minimum rate below which banks cannot price loans. It will be calculated by each bank based on their own cost of funds and operating costs. Existing loans will continue at their present rates until maturity or renewal after July 1st, when the base rate will apply.
- Author
- Sangram Panda
- Language
- EN