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Welcome to Arthapedia

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About Arthapedia

Arthapedia is a portal for facilitating understanding of the Indian Economy and its governance by explaining the concepts used in the economic policy domain in India.

This portal is managed by government economists of India (known as Indian Economic Service (IES) Officers) and is intended to cater to the requirements of their counterparts in other countries as well as to academicians, economists, policy practitioners, financial journalists, students and to any interested citizen, both within the country and abroad.

The objective of this portal is to increase transparency in government by simplifying indigenous concepts or by introducing domestic institutions to support the professional development of public policy economists. It is meant to enrich and enhance citizen friendly policy formulation through dialogue and collaborative action.

The motivation behind this site is the then Chief Economic Advisor at Ministry of Finance, Government of India- Dr. Kaushik Basu (Dec 2009 - July 2012)- who on the occasion of fiftieth year of establishment of Indian Economic Service inspired IES officers to create a website for explaining economics related concepts which are of relevance to India.

The forerunner for this website is the internally circulated daily newsletter iES Today which was widely received and appreciated by policy makers of the country.

Members: All serving IES officers are automatically members of this website and are vested with the rights for writing the content.

The Government of India does not monitor the entries and the views expressed therein are not necessarily those of the government. The entries, therefore, must not be treated as official statements of policy or definitions.


 
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Marginal Cost of funds based Lending rate (MCLR)

The marginal cost of funds based lending rate (MCLR) refers to the minimum interest rate of a bank below which it cannot lend, except in some cases allowed by the RBI. It is an internal benchmark or reference rate for the bank. MCLR actually describes the method by which the minimum interest rate for loans is determined by a bank - on the basis of marginal cost or the additional or incremental cost of arranging one more rupee to the prospective borrower. The MCLR methodology for fixing interest rates for advances was introduced by the Reserve Bank of India with ... Read more
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