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RBI/2018-19/32
DBR.No.Ret.BC.03/12.01.001/2018-19
August
1, 2018
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.107/12.01.001/2017-18 dated June
6, 2018 on the captioned subject.
2. As announced in the Third Bi-Monthly Monetary Policy Statement 2018-19 dated
August 1, 2018, the Bank Rate stands adjusted 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.
Yours faithfully
(Dr. S.K.Kar)
Chief General Manager
Encl. : As above
Annex
Penal
Interest Rates which are linked to the Bank Rate
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Item
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Existing
Rate
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Revised
Rate
(With immediate effect)
|
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Penal interest rates on
shortfalls in reserve requirements (depending on duration of shortfalls).
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Bank Rate plus 3.0 percentage
points (9.50 per cent) or Bank Rate plus 5.0 percentage points (11.50 per
cent).
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Bank Rate plus 3.0 percentage
points (9.75 per cent) or Bank Rate plus 5.0 percentage points (11.75 per
cent).
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