Revision in Bank Rate - ఆర్బిఐ - Reserve Bank of India
Revision in Bank Rate
RBI/2013-14/139 July 15, 2013 The Chief Executive Officer Madam / Dear Sir, Revision in Bank Rate Please refer to our circular UBD BPD (PCB) Cir. No.48/16.11.00/2012-13 dated May 03, 2013 on the captioned subject. As announced in the Press Release 2013-2014/100 dated July 15, 2013, the Bank Rate stands revised by 200 basis points from 8.25 per cent to 10.25 per cent with effect from July 15, 2013. 2. 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 10.25 per cent with effect from July 15, 2013. 3. Please acknowledge receipt to the Regional Office concerned. Yours faithfully, (A.K. Bera) Penal Interest Rates which are linked to the Bank Rate
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