Bsc monthly magazine The panel, set up to look into why commercial banks were not passing on the central bank's rate cuts, has said in a report that banks "deviated in an ad hoc manner from the specified methodologies" for calculating their lending rates to avoid fully following the RBI's rate moves. bsc publicationThe panel proposed to remove some of the leeway that banks have enjoyed, including allowing lenders to use only one of three benchmarks to set their lending rates: the policy repo rate, Treasury Bill rates or certificate of deposit rates. bsc magazine-buys-nowThe RBI unveiled marginal cost of funds-based lending rates MCLR) to remove much of the discretion commercial banks have to set lending rates.
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