Mumbai: The Reserve Bank of India (RBI) has called a meeting of bank chiefs on 16 September to discuss and take forward the issue of arriving at a benchmark prime lending rate (PLR).

RBI deputy governor Dr Rakesh Mohan will convene the meeting. The apex bank is understood to be pushing for the new benchmark PLR, to be introduced by the end of this month.

Last month, the central bank held discussions with bank general managers and executive directors, on the factors to be taken into account while fixing a benchmark PLR, which will replace tenor-linked PLRs which the RBI wants banks to discontinue.