Prevailing bank rate under section 372A
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 April 2010
Dear all
Can anyone please help me with the term 'prevailing bank rate' under section 372A for inter corporate loans and advances?
Is it the bank rate i.e 6% or the PLR which is 11-12%?
Can anyone please help me with the term 'prevailing bank rate' under section 372A for inter corporate loans and advances?
Is it the bank rate i.e 6% or the PLR which is 11-12%?
11 April 2010
it is the standard rate at which RBI grants loans to commerial banks under the security of govt and other first class securoties. it is 6 %
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