Glossary
/Base Rate
What is Base Rate?
It is the absolute minimum interest rate a bank is allowed to charge its best customers. The RBI sets this benchmark, meaning no bank can legally lend below this number. It replaced the old, opaque BPLR system to bring more transparency to how banks price their loans. While most retail loans are now directly linked to external benchmarks like the repo rate, the base rate still applies to certain older corporate loans. If the RBI hikes this rate, borrowing money instantly becomes more expensive for businesses.
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