Answer: The rate at which banks normally give loan to most favored customers
Notes: The Prime Lending Rate (PLR) is the interest rate that banks charge their most creditworthy customers, typically large corporations. It serves as a benchmark for various loans and is influenced by the central bank's monetary policy. In India, the PLR is set by individual banks and reflects their cost of funds and risk assessment. The PLR is crucial for determining interest rates on loans and can impact economic activity.
