Change in Bank Rate

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ಪ್ರಕಟಿಸಲಾದ ದಿನಾಂಕ ಫೆಬ್ರವರಿ 07, 2019

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RBI/2018-19/117
DBR.No.Ret.BC.23/12.01.001/2018-19

February 07, 2019

The Chairperson / CEOs of all Scheduled and Non Scheduled Banks

Dear Sir / Madam,

Change in Bank Rate

Please refer to our circular DBR.No.Ret.BC.03/12.01.001/2018-19 dated August 01, 2018 on the captioned subject.

2. As announced in the Sixth Bi-Monthly Monetary Policy Statement 2018-19 dated February 07, 2019, the Bank Rate stands adjusted by 25 basis points from 6.75 per cent to 6.50 per cent with immediate effect.

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.

Yours faithfully

(Dr.S.K.Kar)
Chief General Manager

Encl. : As above

Annex

Penal Interest Rates which are linked to the Bank Rate

Item	Existing Rate	Revised Rate (With immediate effect)
Penal interest rates on shortfalls in reserve requirements (depending on duration of shortfalls).	Bank Rate plus 3.0 percentage points (9.75 per cent) or Bank Rate plus 5.0 percentage points (11.75 per cent).	Bank Rate plus 3.0 percentage points (9.50 per cent) or Bank Rate plus 5.0 percentage points (11.50 per cent).