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Archive for February, 2010

RBI draft circular:PLR interest cap for Banks on sub Rs 2 Lakh loans stands withdrawn

Banks cannot make a sub INR 200,000 (~ USD 4500) loan  higher than its Prime Lending Rate ( varies, purely indicatively from 11% to 16% for most banks in India)

See point 5: Download here ANDC100210_F

If the Prime Lending rate cap is withdrawn, banks can make a loan sub INR 200,000 (~ USD 4500) to compete with other players catering to this segment.

Benefits: ALL, specially the end microcredit customer.