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Benchmark Prime Lending Rate meaning?

Zach Chandler

in Student Loans

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Chelsea Hayes on July 16, 2018

According to the Reserve Bank of India (RBI), banks are free to set the Reference point for subprime Lending Rate (BPLR) with the approval of their respective Boards. The banks are free to decide the BPLR but their interest rates have to have a reference to the BPLR fixed. The BPLR is the interest rate that commercial banks charge their most credit-worthy customers.

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