sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Latest Circulars »
 Results of Underwriting Auctions Conducted on May 24, 2018
 RBI to conduct 7-day Variable Rate Reverse Repo auction under LAF on May 24, 2018
 Results of OMO purchase auction held on May 17, 2018 and Settlement on May 18, 2018
 Auction of Government of India Dated Securities May 21, 2018
 Auction for Sale (Re-issue) of Government Stock (GS) May 21, 2018
  RBI-Setting up of IFSC Banking Units (IBUs) – Permissible activities
 RBI-Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Final Guidelines
 RBI imposes penalty on The United Co-operative Bank Ltd., Bagnan Station Road(North), PO- Bagnan, Dist- Howrah, West Bengal
 Auction for Sale (Re-issue) of Government Stock (GS) May 14, 2018
 Auction of Government of India Dated Securities May 14, 2018
 RBI declines to share copies of inspection reports

RBI-Change in Bank Rate
September, 30th 2015

RBI/2015-16/194
DBR.No.Ret.BC.42/12.01.001/2015-16

September 29, 2015

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,

Change in Bank Rate

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
Encl. : As above


Annex

Penal Interest Rates which are linked to the Bank Rate

Item Existing Rate Revised Rate
(Effective from September 29, 2015)
Penal interest rates on shortfalls in reserve requirements (depending on duration of shortfalls). Bank Rate plus 3.0 percentage points (11.25 per cent) or Bank Rate plus 5.0 percentage points (13.25 per cent). Bank Rate plus 3.0 percentage points (10.75 per cent) or Bank Rate plus 5.0 percentage points (12.75 per cent).

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions