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Which authority monitors and provides guidelines for the MCLR framework in India?

hard Q10 of 15
Banking Awareness - Banking Acts, Reforms & Risk Management
Which authority monitors and provides guidelines for the MCLR framework in India?
AMinistry of Finance
BReserve Bank of India
CSEBI
DIndian Banks’ Association
Step-by-Step Solution

  1. Step 1: Identify the banking regulator

    RBI regulates banks and interest rate frameworks.

  2. Step 2: Link regulator with MCLR

    RBI issues guidelines and oversees MCLR implementation.

  3. Final Answer:

    Reserve Bank of India → Option B

  4. Quick Check:

    Lending benchmarks are guided by RBI ✅
Quick Trick: Any lending benchmark in India = RBI oversight.
Common Mistakes:
MISTAKES
  • Attributing MCLR control to government departments.
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