The Hindu Business Line : PHDCCI for lower spreads on commercial loans

THE PHD Chamber of Commerce and Industry has suggested lower spread on the prime lending rate (PLR) charged by commercial banks on loans given to business units.

The chamber has sought maximum spread or excess interest over the PLR at one per cent.

Under no circumstances should the banks charge more than two per cent, it said.

The chamber urged the RBI in a memorandum to evolve a mechanism to prevent discrimination on the basis of loan size.

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