RBI/2012-13/407
RPCD.CO.RRB.RCB.BC. No.62/03.05.33/2012-13
January 29, 2013
The Chairmen/Chief Executive Officers,
All Regional Rural Banks / State and Central Co-operative Banks
Dear Sir,
Bank Rate
As announced in the Third Quarter Review of Monetary Policy 2012-13, the Bank Rate stands adjusted by 25 basis points from 9.00 per cent to 8.75 per cent with effect from January 29, 2013.
2. All penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised as indicated in Annex.
3. Please acknowledge receipt.
Yours faithfully
(C. D. Srinivasan)
Chief General Manager
Encl: as above
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Notification No : RBI/2012-13/407Published in Community & General