Some lenders still continuing with Libor contracts, says RBI

In July 2021, the RBI issued an advisory to banks and financial institutions to cease entering into new financial contracts that reference Libor as a benchmark and instead use any widely accepted alternative reference rate (ARR) by December 2021. The issue figured in a meeting between RBI and senior executives of all top banks in December.

from Banking/Finance-Industry-Economic Times https://ift.tt/XT1Nxdy