Supreme Court: Award Valid Even If Passed After Mandate Expiry When Court Extends Time || Jharkhand HC: Regular Bail Plea During Interim Bail is Not Maintainable under Section 483 BNSS || Cal HC: Theft Claims and Public Humiliation Alone Don’t Amount To Abetment of Suicide U/S 306 IPC || Delhi High Court: Elective Surgery Does Not Bar Grant of Interim Bail on Medical Grounds || Delhi HC: Consensual Romance With Minor Nearing 18 May be Considered For Bail in POCSO Case || Delhi HC: Not Named In FIR Doesn’t Matter If Financial Links Show Active Role in NDPS Offence || Chhattisgarh HC: Rape is an Affront to Womanhood and a Brutal Violation of The Right To Life || Supreme Court: Single Insolvency Petition Maintainable Against Linked Corporate Entities || Supreme Court: Disputes are Not Arbitrable When the Arbitration Agreement is Alleged to be Forged || Supreme Court: Temple Trust Does Not Qualify as an ‘Industry’ under the Industrial Disputes Act

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 :