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Whether the revised PLR/s will be applicable to the existing advances?

April 26, 2017advances applicable existing PLR revised s

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Whether the revised PLR/s will be applicable to the existing advances?

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Yes. The banks are required to invariably incorporate following proviso in the loan agreements in the case of all advances, including term loans, enabling banks to charge the applicable interest rate in conformity with the directives issued by RBI or as may be decided by the Bank, except in case of Fixed Rate Loans.