April 04, 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.23/12.01.001/2018-19
dated February 07, 2019 on the captioned subject.
2. As announced in the First Bi-Monthly Monetary Policy Statement
2019-20 of April 04, 2019, the Bank Rate is revised downwards by 25 basis
points from 6.50 per cent to 6.25 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.
Chief General Manager
Encl. : As above
Penal Interest Rates which are
linked to the Bank Rate
(With immediate effect)
Penal interest rates on shortfalls in reserve
requirements (depending on duration of shortfalls).
Bank Rate plus 3.0 percentage points (9.50 per cent)
or Bank Rate plus 5.0 percentage points (11.50 per cent).
Bank Rate plus 3.0 percentage points (9.25 per cent)
or Bank Rate plus 5.0 percentage points (11.25 per cent).