Economics · Banking and Monetary Policy
What is meant by the 'Prime Lending Rate' (PLR)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The rate applied exclusively to long-term infrastructure and agricultural development loans.
- 2The weighted average rate of interest offered by banks to senior citizens on fixed deposits.
- 3The interest rate at which the Central Bank discounts the bills of commercial banks.
- 4The interest rate charged by a bank to its most creditworthy customers with practically zero default risk.✓
Correct answer
The interest rate charged by a bank to its most creditworthy customers with practically zero default risk.
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