Change in the Bank Rate

Change in the Bank Rate

Please refer to our circular DOR.No.Ret.BC.74/12.01.001/2019-20 dated May 22, 2020 on the captioned subject.

2. As announced in the Monetary Policy Statement 2022-23 dated May 04, 2022, the Bank Rate is revised upwards by 40 basis points from 4.25 per cent to 4.65 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.

Notification

Also Read: Lending by Commercial Banks to NBFCs and Small Finance Banks (SFBs) to NBFC-MFIs, for the purpose of on-lending to priority sectors

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