Allahabad HC: Police Report in Non-Cognizable Offence is a Complaint; Accused Must Be Heard First || Kerala HC: Hospitals Must Display Rates and Cannot Deny Emergency Care For Lack of Advance Payment || Orissa HC: Convict’s Refusal to Appeal Through Legal Aid Must be Recorded in Writing || SC Halts Deer Translocation From Delhi’s AN Jha Park And Orders a Probe into DDA Negligence || Supreme Court: The Growing Trend of Succeeding Benches Overturning Earlier Judgments is Troubling || SC: Administrative Orders Must be Based on Stated Reasons and Cannot Add New Grounds Later || HP HC: Mixing Contraband Pouches Before Sampling Raises Serious Doubts About Accused's Possession || Bombay HC: Drug Names Using International Non-Proprietary Names Cannot be Monopolized || Delhi High Court: Assets From Illegal Cricket Betting are Proceeds of Crime Attachable by ED || Delhi HC: Extension to Issue SCN U/S 110 of The Customs Act Must be Granted Before Six Months Expire

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 :