IBA group to study draft PLR guidelines

Mumbai: The Indian Banks' Association (IBA) on Thursday decided to form a group to study the draft guidelines and related issues of the benchmark prime lending rate (PLR).

The Management Committee of the IBA met to discuss the issue of the PLR for commercial banks in New Delhi.

Sources said, "No decision was taken on the benchmark PLR today. But a group of bankers are to study the issue further."

The group, which is yet to be constituted, will be headed by Mr V. Leeladhar, CMD, Union Bank of India.The Reserve Bank of India (RBI) had suggested in the latest Credit Policy that the IBA look into the issue and charter a roadmap for banks to arrive at a benchmark PLR.