Which of the following statements about BPLR (Benchmark Prime Lending Rate) and the Base Rate system are correct?
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BPLR was not transparent and led to different borrowers getting different interest rates.
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RBI formed a committee under Shri Deepak Mohanty to review BPLR and suggest improvements.
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The Base Rate system was introduced to replace BPLR to ensure transparency in credit pricing.
1
1 and 2 only
2
1 and 3 only
3
2 and 3 only
4
3 only
5
All 1, 2, and 3.