The Reserve Bank of India today released on its website, Draft Circular on the Base Rate system for comments and feedback. Comments/feedback on the proposals contained in the draft circular may please be sent by February 17, 2010 by email or by fax to 022-22610430 or to the Adviser-in-Charge, Monetary Policy Department, Reserve Bank of India, Central Office Building, 24th Floor, S.B. Singh Marg, Mumbai-400001.

It may be recalled that the Reserve Bank had constituted a Working Group on Benchmark Prime Lending Rate (BPLR). The Report of the Group was placed on the Reserve Bank’s website on October 20, 2009 for public comments. After considering the recommendations of the Group and the suggestions received from various stakeholders, it is proposed to bring changes in the present lending rate system, as outlined in the draft circular on the Base Rate system for banks.

G. Raghuraj
Dy. General Manager

Press Release : 2009-2010/1112