The Marginal Cost Of Funds Based Lending Rate(MCLR) is an internal benchmark or reference rate that banks in India use to determine interest rates on various loans. This reflects money, operating costs and marginal costs of tenner premiums, ensuring that lends rates are more responsible for changes in policy rates set by RBI. https://finskul.in/mclr-a-comprehensive-guide-for-borrowers-and-investors/