Financial Daily from THE HINDU group of publications
Saturday, Sep 13, 2003
Financial Daily from THE HINDU group of publications Saturday, Sep 13, 2003 |
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Public Sector Banks Money & Banking - Interest Rates Bank chiefs to discuss benchmark PLR on Sept 16 Our Bureau
Mumbai , Sept. 12 THE Reserve Bank of India has called a meeting of bank chiefs on September 16, to discuss and take forward the issue of arriving at a benchmark prime lending rate. According to banking circles, Dr Rakesh Mohan, Deputy Governor RBI, will convene the meeting. The apex bank is understood to be pushing for the new benchmark PLR, (BPLR) to be introduced by the end of this month. Last month, the Central bank held discussions with bank general managers and executive directors, on the factors to be taken into account while fixing a benchmark PLR, which will replace tenor-linked PLRs which RBI wants banks to discontinue. RBI has stated the need for a benchmark PLR in the banking industry.
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