September 30, 2022
Please refer to our circular DOR.RET.REC.59/12.01.001/2022-23 dated August 05, 2022 on the captioned subject.
2. As announced in the Monetary Policy Statement 2022-23 dated September 30, 2022, the Bank Rate is revised upwards by 50 basis points from 5.65 per cent to 6.15 per cent 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.
Applicability
4. This circular is applicable to all the banks.
Notification : https://www.dropbox.com/s/gjo8d3vnr745m8x/Change%20in%20Bank%20Rate.pdf?dl=0