What is the time period in which the external benchmark-linked lending rate will be revised by banks, according to recent rbis circular?
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Answer:
three months
Explanation:
Reset period of EMI
RBI's circular says that the interest rate linked to an external benchmark has to be reset at least once in three months. For the borrowers, this would mean that banks would now have to reprice the interest rates on loans every three months to pass on any changes in the external benchmark rate.
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