APPENDIX TABLE I.2 : INTEREST RATE STRUCTURE OF SCHEDULED COMMERCIAL BANKS

RbiAnnouncementWeb

Asset Publisher

প্ৰকাশ কৰা তাৰিখ 30 জুন 1998

listen

APPENDIX TABLE I.2 : INTEREST RATE STRUCTURE OF SCHEDULED COMMERCIAL BANKS

								(Per cent per annum)

				Rates as on
	Item			April	April	March	January	October	June	April
				29, 1998	2, 1998	18, 1998	16, 1998	21, 1997	25, 1997	15, 1997

	1			2	3	4	5	6	7	8

A.	Lending Rates
	Size of Credit Limit
	1.	Up to and inclusive
		of Rs. 25,000		Not	12.0	12.0	12.0	12.0	12.0	12.0
				exceeding
	2.	Over Rs.25,000 and		PLR	Not	Not	Not	Not
		up to Rs. 2 lakh			exceeding	exceeding	exceeding	exceeding
					13.5	13.5	13.5	13.5	13.5	13.5
	3.	Prime Lending Rate*
		(Over Rs. 2 lakh)		12.75-14.5	13.5-14.5	14.0-14.5	14.0-14.5	12.5-13.5	13.5-14.5	14.0-14.5

B.	Deposit Rates
	Category of Account
	1.	Current		Nil	Nil	Nil	Nil	Nil	Nil	Nil
	2.	Savings		4.5	4.5	4.5	4.5	4.5	4.5	4.5
	3.	Term Deposits@
		a)	Up to one year	5.0-10.5	5.0-10.5	5.0-12.5	5.0-10.0	5.0-8.0	5.0-8.0	5.0-9.0
		b)	Over one year	9.0-12.5	9.5-12.5	9.5-12.5	10.0-12.0	9.0-12.0	9.5-13.0	10.0-13.0

Memo Item :

	Bank Rate #			9.0	10.0	10.5	11.0	9.0	10.0	11.0

*	Effective October 18, 1994, banks were free to determine their own prime lending rates (PLRs) for credit limit over Rs.2 lakh; data relate to major public sector banks.
@	Between April 16, 1997 and October 21, 1997, the ceiling for interest rate on term deposits for 30 days and up to one year was not exceeding Bank Rate minus two percentage points. Effective October 22, 1997, the ceiling was removed and banks were given the freedom to determine their own interest rates on term deposits over 30 days. The stipulation of minimum maturity period of term deposits was reduced from 30 days to 15 days, effective April 29, 1998 .
#	Bank Rate was effective from the close of business of dates indicated (except for April 29, 1998).