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RBI releases draft guidelines to calculate policy rates

Reserve Bank of India, on Tuesday, released draft guidelines of new formula to calculate policy rates to ensure that policy rates are passed on to the customers by banks as the earliest.

Reserve Bank of India, on Tuesday, released draft guidelines of new formula to calculate policy rates. This has been done to ensure that policy rate cut benifits are passed on to the customers by banks as the earliest.

It will sync lending rates by banks and policy rates. Central Bank has asked banks to consider marginal cost of funds to calculate individual lending rates.

RBI has asked banks to submit a roadmap within two months before releasing the final circular. RBI has also asked banks to submit their opinions and feedback.

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