Friday, October 2, 2015

Change in Bank Rate

The Bank Rate stands adjusted from 8.25 per cent to 7.75 per cent with effect from September 29, 2015.
Penal Interest Rates which are linked to the Bank Rate
Existing Rate
Revised Rate
(Effective from September 29, 2015)

Penal interest rates on shortfalls in reserve requirements as per duration
11.25 per cent or 13.25 per cent.
Bank Rate plus 3.0% (10.75%) or
Bank Rate plus 5.0 % (12.75%).

Based on RBI Circular dt 29/9/15. Please visit for any further clarification if required…..          Poppy