Economics · Banking System in India
Which benchmark rate framework was introduced by the RBI in 2016 for commercial banks to determine interest rates for advances?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Prime Lending Rate (PLR)
- 2Base Rate System
- 3Marginal Cost of Funds based Lending Rate (MCLR)✓
- 4Bank Rate System
Correct answer
Marginal Cost of Funds based Lending Rate (MCLR)
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Banking System in India MCQs →Want more practice questions on Banking System in India?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Banking System in India