Madras HC: Police Superintendent not Liable For IO’s Delay In Filing Chargesheet or Closure Report || Supreme Court: Provident Fund Dues Have Priority over a Bank’s Claim under the SARFAESI Act || SC Holds Landowners Who Accept Compensation Settlements Cannot Later Seek Statutory Benefits || Supreme Court: Endless Investigations and Long Delays in Chargesheets Can Justify Quashing || Delhi HC: Arbitrator Controls Evidence and Appellate Courts Cannot Reassess Facts || Delhi HC: ED Can Search Anyone Holding Crime Proceeds, not Just Those Named in Complaint || Delhi HC: ED Can Search Anyone Holding Crime Proceeds, not Just Those Named in Complaint || Delhi HC: Economic Offender Cannot Seek Travel Abroad For Medical Treatment When Available In India || SC: Governors and President Have No Fixed Timeline To Assent To Bills; “Deemed Assent” is Invalid || SC: Assigning a Decree For Specific Performance of a Sale Agreement Does Not Require Registration

RBI clarifies its Directions on MCLR System- (Reserve Bank of India) (29 Mar 2016)

MANU/RPRL/0093/2016

Banking

The Reserve Bank of India clarified its 2016 Directions relating to the Marginal Cost of Funds based on Lending Rate system, effective 1 April 2016. The notification includes a helpful illustration to demonstrate the intended functioning of the regime for determining MCLR. The RBI reiterates that fixed rate loans are exempt from being linked to MCLR, with such loans of tenor above three years also benefitting from exemption. Also, MCLR computation will take into consideration balances, deposits and other borrowings outstanding on the day previous to calculation.

Relevant : Guidelines for interest rates on advances MANU/RMIC/0398/2015

Tags : MCLR MARGINAL COST FIXED RATE

Share :