Revision in Bank Rate - આરબીઆઈ - Reserve Bank of India
Revision in Bank Rate
RBI/2014-15/407 January 15, 2015 The Chief Executive Officer Madam / Dear Sir, Revision in Bank Rate Please refer to our circular UBD.BPD.(PCB).Cir.No.46/16.11.00/2013-14 dated January 28, 2014 and RPCD.CO.RRB.RCB.BC.No.82/03.05.33/2013-14 dated January 29, 2014 on the captioned subject. 2. As announced in the Monetary Policy Statement dated January 15, 2015, the Bank Rate stands adjusted by 25 basis points from 9.0 per cent to 8.75 per cent with effect from January 15, 2015. 3. All penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised as indicated in the Annex. The interest rate on refinance for SSI under Section 17(2) (bb) read with Section 17(4)(c) of the Reserve Bank of India Act, 1934, also stands revised to 8.75 per cent with effect from January 15, 2015. Yours faithfully, (Suma Varma) Penal Interest Rates which are linked to the Bank Rate
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