RBI cuts repo rate to 5.75% making it lowest since 2010


RBI/2018-19/199
DBR.No.Ret.BC.44/12.01.001/2018-19

June 06, 2019

The Chairperson / CEOs of all Scheduled and Non Scheduled Banks
Dear Sir / Madam,

Change in Bank Rate

Please refer to our circular DBR.No.Ret.BC.33/12.01.001/2018-19 dated April 04, 2019 on the captioned subject.

2. As announced in the Second Bi-Monthly Monetary Policy Statement 2019-20 of June 06, 2019, the Bank Rate is revised downwards by 25 basis points from 6.25 percent to 6.00 percent 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.

Yours faithfully

(Shrimohan Yadav)
Chief General Manager

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 (9.25 per cent) or Bank Rate plus 5.0 percentage points (11.25 per cent). Bank Rate plus 3.0 percentage points (9.00 per cent) or Bank Rate plus 5.0 percentage points (11.00 per cent).

Posted :
on 07 June 2019
 
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