what is plr rate as devised by rbi?
this relates to banking
- 1 decade agoFavorite Answer
PLR stands for Prime Lending Rate.
Please not RBI no longer regulate PLR, it is monitored & decided on by every bank individually e.g. SBI, HDFC & ICICI all banks regulate there PLR individually.
PLR is the rate to which all other lending rates are linked e.g. House Loan, Car Loan etc.Source(s): I am a Chartered Accountant
- 4 years ago
Prime rate, or Prime Lending Rate, is a term applied in many countries to a reference interest rate used by banks. The term originally indicated the rate of interest at which banks lent to favored customers, i.e., those with high credibility, though this is no longer always the case. Some variable interest rates may be expressed as a percentage above or below prime rate.