The external benchmark can be RBI's repo rate, 91 or 182 days treasury bill yield produced by the Financial Benchmarks India Private Ltd (FBIL) or any other benchmark market interest rate produced by the FBIL. The banks will have the full discretion to decide the spread, but it will remain the same during the tenure of the loan unless there is a marked change in the credit assessment of the borrower. Within a loan category, bank will be allowed to use only one benchmark.