COMMITTEES
Anand Sinha Committee Recommends Benchmark For Floating Interest Rate
A Reserve Bank of India (RBI) committee headed by former RBI Deputy Governor Anand Sinha suggested a benchmark floating interest rate, especially for home loans, to bring greater transparency in the pricing of credit.The committee on 10 April released Draft Report on ‘Working Group on Pricing of Credit’. As per the report, the Indian Banks Association (IBA) may develop a new benchmark for floating interest rate products, namely, the Indian Banks Base Rate (IBBR), which may be collated and published by IBA on a periodic basis.