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        FEMA & RBI

        Transparency in Lending Loans Under Floating Rate Scheme

        August 1, 2014

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        Reserve Bank of India (RBI) guidelines provide that Banks should lend only at or above their Base Rate and exhibit information thereof at their branches and on websites. RBI has given freedom to banks to offer all categories of loans on fixed or floating rates, subject to conformity to their Asset-Liability Management (ALM) Guidelines. The methodology of computing the floating rates should be objective, transparent and mutually acceptable to counter parties. The Base Rate could also serve as the reference benchmark rate for floating rate loan products, apart from external market benchmark rates.

        This information was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in Lok Sabha today.

        Base rate transparency: banks must disclose rate information and use objective, mutually acceptable floating rate benchmarks. Banks must price loans at or above the Base Rate and display that information at branches and online. Loans may be on fixed or floating terms if they conform to Asset Liability Management guidelines. Floating rate computation must be objective, transparent and mutually acceptable, and the Base Rate may serve as an internal benchmark alongside external market benchmarks.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Base rate transparency: banks must disclose rate information and use objective, mutually acceptable floating rate benchmarks.

                                Banks must price loans at or above the Base Rate and display that information at branches and online. Loans may be on fixed or floating terms if they conform to Asset Liability Management guidelines. Floating rate computation must be objective, transparent and mutually acceptable, and the Base Rate may serve as an internal benchmark alongside external market benchmarks.


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