MANU/RMIC/0361/2015
Ministry : Reserve Bank of India
Department/Board : Department of Banking Regulation
Circular No. : DBR.No.Ret.BC.42/12.01.001/2015-2016
RBI/2015-2016/194
Date : 29.09.2015
Notification/ Circulars Referred : Circulars DBR.No.Ret.BC.99/12.01.001/2014-15 dated June 02, 2015 MANU/RMIC/0210/2015;DCBR.BPD.(PCB/RCB).Cir.No.37/16.11.00/2014-15 dated June 2, 2015 MANU/RMIC/0211/2015
Citing Reference:
Circulars DBR.No.Ret.BC.99/12.01.001/2014-15 dated June 02, 2015 MANU/RMIC/0210/2015 Referred
DCBR.BPD.(PCB/RCB).Cir.No.37/16.11.00/2014-15 dated June 2, 2015 MANU/RMIC/0211/2015 Referred
The Chairperson / CEOs of all Scheduled Commercial Banks /
Regional Rural Banks / Local Area Banks /
All Primary (Urban) Co-operative Banks /
State & Central Co-operative Banks (StCBs / CCBs)
Dear Sir / Madam,
Bank Rate adjusted by 50 basis points from 8.25 per cent to 7.75 per cent with effect from September 29, 2015
Please refer to our circulars DBR.No.Ret.BC.99/12.01.001/2014-15 dated June 02, 2015 and DCBR.BPD.(PCB/RCB).Cir.No.37/16.11.00/2014-15 dated June 2, 2015 on the captioned subject.
2. As announced in the
Fourth Bi-Monthly Monetary Policy Statement 2015-16 dated September 29, 2015, the Bank Rate stands adjusted by 50 basis points from 8.25 per cent to 7.75 per cent with effect from September 29, 2015.
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
(Lily Vadera)
Chief General Manager