EBLR is linked to the RBI's repo rate. The other system used by banks to determine the rates, Marginal Cost of Funds Based Lending Rate (MCLR), is decided internally by the banks based on their cost of funds including the prevalent deposit rates.source https://economictimes.indiatimes.com/industry/banking/finance/banking/pass-through-of-rate-hikes-to-lift-bank-margins-sharply/articleshow/92135868.cms
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