MANU/RMIC/0050/2016
Ministry : Reserve Bank of India
Department/Board : Department of Banking Regulation
Circular No. : DBR.No.Ret.BC.90/12.01.001/2015-2016
RBI/2015-2016/358
Date : 05.04.2016
Notification/ Circulars Referred : Circular DBR.No.Ret.BC.42/12.01.001/2015-16 dated September 29, 2015 MANU/RMIC/0361/2015
Citing Reference:
Circular DBR.No.Ret.BC.42/12.01.001/2015-16 dated September 29, 2015 MANU/RMIC/0361/2015 Referred
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.42/12.01.001/2015-16 dated September 29, 2015 on the captioned subject.
2. As announced in the
First Bi-Monthly Monetary Policy Statement 2016-17 dated April 05, 2016, the Bank Rate stands adjusted by 75 basis points from 7.75 per cent to 7.0 per cent with effect from April 05, 2016.
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
(S. S. Barik)
Chief General Manager
Annex
Penal Interest Rates which are linked to the Bank Rate