Dear friends,
RBI has increased Bank rate u/s 49 of RBI Act from 6% to 9.5% as per notification dated 13.2.2012 attached.
Consequently, minimum rate of interest that can be charged on inter-corporate loans u/s 372A of Companies Act 1956 also gets increased to 9.5%.
Thanks
Attached File : 9367 930841 bank rate raised by rbi from 6 to 9 5 13 2 2012.pdf downloaded: 181 times
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