IBA group to study draft PLR guidelines
By Our Convergence Bureau | 21 Nov 2003
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.