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BRIEF-India cenbank releases discussion paper to review working of MCLR system
October 4, 2017 / 3:38 PM / 15 days ago

BRIEF-India cenbank releases discussion paper to review working of MCLR system

Oct 4 (Reuters) -

* India cenbank releases discussion paper on reviewing the working of the marginal cost of funds based lending rate (MCLR) system

* India cenbank says banks must re-calculate MCLR lending rates immediately, stick to formula provided

* India cenbank says banks must let borrowers migrate to MCLR without fees, charge

* India cenbank says may make T-bill rate, the CD rate and repo rate serve external benchmarks for MCLR

* India cenbank says considering making all floating rate loans reference 1 of 3 external benchnmarks from April 2018

* India cenbank says that responses to its discussion paper must be received by Oct. 25

* India cenbank kept the repo rate unchanged at 6 pct on Wednesday Further company coverage: [bit.ly/2xZ0ChE] (Reporting by Promit Mukherjee)

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