Reserve Bank of India has issued a notification for Bank Rate on 29th Jan., 2013, in this notification RBI instructed to All Scheduled Commercial Banks & Local Area Banks regarding Bank Rate. Reserve Bank of India had reduced Bank Rate by 25 basis points from 9.00 per cent to 8.75 per cent with effect from January 29, 2013.
RBI further instructed to all Scheduled Commercial Banks and Local Area Banks for all penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised as indicated in Annex.
Download Notification of Bank Rate Click Here
