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Bank rate increased from 6% to 9.5%

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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(3) of Companies Act also gets increased to 9.5%. #pdf
P C Agrawal

on 15 February 2012

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