Click here to Visit the RBI’s new website

BBBPLogo

REGULATING COMMERCIAL BANKING

Banks are fundamental to the nation's financial system. The central bank has a critical role to play in ensuring the safety and soundness of the banking system-and in maintaining financial stability and public confidence in this system.

(304 kb)
Date : Feb 08, 2023
Change in Bank Rate

RBI/2022-23/174
DOR.RET.REC.101/12.01.001/2022-23

February 08, 2023

Madam/Sir,

Change in Bank Rate

Please refer to our circular DOR.RET.REC.88/12.01.001/2022-23 dated December 07, 2022 on the captioned subject.

2. As announced in the Monetary Policy Statement 2022-23 dated February 08, 2023, the Bank Rate is revised upwards by 25 basis points from 6.50 per cent to 6.75 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.

Applicability

4. This circular is applicable to all the banks.

Yours faithfully,

(Prakash Baliarsingh)
Chief General Manager

Encl.: As above


Annex

Penal Interest Rates which are linked to the Bank Rate

Item Existing Rate Revised Rate
(With immediate effect)
Penal interest rates on shortfalls in reserve requirements (depending on duration of shortfalls). Bank Rate plus 3.0 percentage points (9.50 per cent) or Bank Rate plus 5.0 percentage points (11.50 per cent). Bank Rate plus 3.0 percentage points (9.75 per cent) or Bank Rate plus 5.0 percentage points (11.75 per cent).
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Archives
Top