The Reserve Bank of India has advised that the applicable rate for credit by NBFC-MFIs for the quarter beginning January 01, 2016 is 9.45 per cent.

It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014 issued to NBFC-MFIs, communicated that it will advise the average of the base rates of the five largest commercial banks on the last working day of every quarter, for the purpose of arriving at the interest rates to be charged by an NBFC-MFI to its borrowers in the ensuing quarter.

Ajit Prasad
Assistant General Manager

Press Release: 2015-2016/1538