Q. With respect to the External Benchmark Lending Rate, RBI has offered banks the options to choose from external benchmarking mechanisms. Which of the following mechanisms is included in it?

1. RBI repo rate
2. The 91-day T-bill yield
3. The 182-day T-bill yield
4. Any other benchmark market interest rate 

Choose the correct answer using the codes given below:
Answer: 1, 2, 3 & 4
Notes: The Reserve Bank of India (RBI) offers banks four external benchmark options for lending rates: RBI repo rate, 91-day T-bill yield, 182-day T-bill yield, or other market interest rates from Financial Benchmarks India Pvt. Ltd. The Marginal Cost of Lending Rate (MCLR), effective since April 2016, is the minimum interest rate for floating-rate loans, based on marginal cost of funds, cash reserve ratio, operating costs, and tenor premium. The base rate is determined by the cost of funds, unallocated resource costs, and return on net worth, varying by bank. The Benchmark Prime Lending Rate (BPLR) was used until June 2010, pricing loans based on actual cost of funds.