RBI/2022-23/174
DOR.RET.REC.101/12.01.001/2022-23

February 08, 2023

Madam/Sir,

Change in Bank Rate

Please refer to our circular DOR.RET.REC.88/12.01.001/2022-23 dated December 07, 2022 on the captioned subject.

2. As announced in the Monetary Policy Statement 2022-23 dated February 08, 2023, the Bank Rate is revised upwards by 25 basis points from 6.50 per cent to 6.75 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.

Applicability

4. This circular is applicable to all the banks.

Yours faithfully,

(Prakash Baliarsingh)
Chief General Manager

Encl.: As above

Annex

Penal Interest Rates which are linked to the Bank Rate