UCBs - Revision in Bank Rate - ଆରବିଆଇ - Reserve Bank of India
UCBs - Revision in Bank Rate
RBI/2013-14/346 October 29, 2013 The Chief Executive Officer Madam / Dear Sir, Revision in Bank Rate Please refer to our circular UBD.BPD.(PCB).Cir.No.28/16.11.00/2013-14 dated October 7, 2013 on the captioned subject. 2. As announced in the Second Quarter Review of Monetary Policy Statement for 2013-14 dated October 29, 2013, the Bank Rate stands adjusted by 25 basis points from 9.0 per cent to 8.75 per cent with effect from October 29, 2013. 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 October 29, 2013 Yours faithfully, (A.K.Bera) Encl: Annex Penal Interest Rates which are linked to the Bank Rate
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