Which of the following statement(s) is/are correct about the recent RBI decision on Monetary Transmission? 1. The Reserve Bank of India (RBI) has made it mandatory for banks to link all floating personal or retail loans to external benchmark from October 1. 2. External Benchmark of RBI refers to the interest rate that banks usually decides on loans given which depends on various factors such as fixed deposit rates, source of funds and savings rate. Select the correct answer using the codes given below:

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UPSC & State PSC

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Which of the following statement(s) is/are correct about the recent RBI decision on Monetary Transmission? 1. The Reserve Bank of India (RBI) has made it mandatory for banks to link all floating personal or retail loans to external benchmark from October 1. 2. External Benchmar...

1 only

2 only

Both 1 and 2

Neither 1 nor 2