RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S2

Notification Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

55234916

Interest Rates on Advances

Reserve Bank of India
Central Office
Department Of Banking Operations & Development
Centre - 1, World Trade Centre
Cuffe Parade, Colaba, Mumbai - 400 005

DBOD.No.Dir.BC. 106 /13:03:00-99

October 29,1999
Kartika 07, 1921(S)

Interest Rates on Advances

In exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby directs, in supersession of its directive DBOD.NO.Dir.BC. 33/13.03.00/98 dated April 29, 1998 that with effect from October 29, 1999, no commercial bank shall charge interest on loans/advances/cash credit/overdrafts or any other financial accommodation granted or provided by it or renewed by it or discount usance bills except in accordance with the rates as specified in the annexure hereto . The interest at the rates specified in the annexure shall be charged with quarterly or longer rests.

2. For the purpose of this Directive, term loan means a loan, which is repayable within a period of not less than 3 years.

3. Nothing contained in this Directive shall apply to loans or advances or other financial accommodation made or provided or renewed by a commercial bank –

  1. against Domestic/NRE/FCNR(B) deposit/s with the bank, provided that the deposit/s stands/stand either in the name/s of the borrower himself/borrowers themselves, or in the names of the borrower jointly with another person.
  2. to a co-operative bank or to any other banking institution,
  3. to its own employees,

4. All other terms and conditions relating to advances against commodities subject to Selective Credit Control, as contained in the directives, issued from time to time, shall remain unaffected.

 

(G.P. Muniappan)
Executive Director

RbiTtsCommonUtility

प्ले हो रहा है
শুনি আছে

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

ভাৰতীয় ৰিজাৰ্ভ বেংক মোবাইল এপ্পলিকেষ্যন ইনষ্টল কৰক আৰু নৱীনতম বাতৰিৰ প্ৰৱেশাধিকাৰ পাওক!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

এই পৃষ্ঠাটো সহায়ক আছিল নে?