What is/are the purpose(s) of Marginal Cost of Funds Lending Rate(MCLR) announced by RBI? (CSE, 2016)
i) These guidelines help improve the transparency in the methodology followed by banks for determining the interest rates on advances.
ii) These guidelines help ensure availability of bank credit at interest rates which are fair to the borrowers as well as banks.
Select the correct answer using the code given below:
Answer: A
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