1.

Base Rate of loans areA. Set by the Reserve Bank of IndiaB. Fixed by individual banksC. Applicable to all new loans after July 2010D. Both b and c

Answer» Correct Answer - D
The Reserve Bank of India introduced Base Rate as a reference benchmark rate for all floating rate loan products with effect from 1 July , 2010 . Each bank has been directed to arrive at its own base rate. The base rate is the minimum interest rate of a Bank below which it cannot lend, except in cases allowed by Reverse Bank of India.


Discussion

No Comment Found

Related InterviewSolutions