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Which authority introduced the MCLR framework in India?

medium Q14 of 15
Banking Awareness - Banking Acts, Reforms & Risk Management
Which authority introduced the MCLR framework in India?
AReserve Bank of India
BGovernment of India
CIndian Banks’ Association
DMinistry of Finance
Step-by-Step Solution

  1. Step 1: Identify the regulator of banks

    RBI regulates banking operations and interest rate frameworks.

  2. Step 2: Link with lending rate reforms

    MCLR was introduced as part of RBI’s monetary transmission reforms.

  3. Final Answer:

    Reserve Bank of India → Option A

  4. Quick Check:

    Loan rate framework reforms come from RBI ✅
Quick Trick: Any lending benchmark reform → RBI.
Common Mistakes:
MISTAKES
  • Attributing MCLR introduction to the Government.
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