What is the full form of "PLR"?

The prime rate (prime) is the interest rate that commercial banks charge their most creditworthy customers, generally large corporations. The prime interest rate, or prime lending rate, is largely determined by the federal funds rate, which is the overnight rate that banks use to lend to one another. Prime forms the basis of or starting point for most other interest rates-including rates for mortgages, small business loans, or personal loans-even though prime might not be specifically cited as a component of the rate ultimately charged.