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Published on May 03, 2013

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Bank Rate

RBI/2012-13/492
RPCD.CO.RRB.RCB.BC. No.73 /03.05.33/2012-13

May 3, 2013

The Chairmen/Chief Executive Officers,
All Regional Rural Banks / State and Central Co-operative Banks

Dear Sir/Madam,

Bank Rate

As announced in the Annual Monetary Policy Statement 2013-14, the Bank Rate stands adjusted by 25 basis points from 8.50 per cent to 8.25 per cent with effect from May 3, 2013.

2. All penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised as indicated in Annex.

3. Please acknowledge receipt to our Regional Office concerned.

Yours faithfully

(A. Udgata)
Principal Chief General Manager

Encl: as above

Annex

Penal Interest Rates which are linked to the Bank Rate

Item	Existing Rate	Revised Rate (Effective from May 3, 2013)
Penal interest rates on shortfalls in reserve requirements (depending on duration of shortfalls).	Bank Rate plus 3.0 percentage points (11.50 per cent) or Bank Rate plus 5.0 percentage points (13.50 per cent).	Bank Rate plus 3.0 percentage points (11.25 per cent) or Bank Rate plus 5.0 percentage points (13.25 per cent).