RBI mandated to link Retail Loans to External Benchmark

Current context: The RBI has mandated banks to link their fresh retail loans to the external benchmark with effect from 1st October 2019.

• The RBI has proposed 3 external benchmarks:

1. Policy repo rate
2. The Government of India’s 3-month and 6-month Treasury bill yields published by Financial Benchmarks India Private (FBIL)
3. Any other benchmark market interest rate published by FBIL

• The directive is applicable to all Public Sector Banks voluntarily, while the private banks are yet to.
• Recently, some state-run banks have introduced home and auto loans having repo-linked products but the RBI wants them to add loans to micro, small and medium enterprises (MSMEs) to an external benchmark.
• RBI has clarified that the final rate charged to the borrowers after the switchover to external benchmark would be same as the rate charged for a new loan of the same category at the time of origination of the loan.

Question: 

Q.1 Which external benchmarks are proposed by the RBI to banks to link their fresh retail loans?
a. Policy repo rate
b. The Government of India’s 3-month and 6-month Treasury bill yields published by Financial Benchmarks India Private (FBIL)
c. Any other benchmark market interest rate published by FBIL
d. All of them