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
Item
|
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%).
|
|
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