The interest rate under external benchmark shall be reset at least once in three months.
The Reserve Bank of India asked banks to link all new floating-rate loans for housing, personal and micro, small and medium enterprises (MSMEs) to specified external benchmarks, including repo, for faster transmission of reduction in interest rate to borrowers.
The interest rate under external benchmark shall be reset at least once in three months, RBI said.Shraddha Sharma chats with Moneycontrol Deputy Executive Editor Ravi Krishnan to find out how this move will affect the banksThe Great Diwali Discount!
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