CHANGE IN BANK RATE Notification:RBI/2012-13/488 DBOD.No.Ret.BC.91 /12.01.001/2012-13 Dated: 03/05/2013 1.   The Bank Rate rate at which RBI allows finance to commercial banks. Bank Rate is a tool, which central bank uses for short-term purposes. stands adjusted by 25 basis points from 8.50 per cent to 8.25 per cent with effect from May 3, 2013. 2.   All penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised as indicated in Annex. Annex Penal Interest Rates which are linked to the Bank Rate Item Existing Rate Revised Rate (Effective from May 3, 2013) Penal interest rates on shortfalls in reserve requirements (depending on duration of shortfalls) Bank Rate plus 3.0 percentage points (11.50 per cent) or Bank Rate plus 5.0 percentage points (13.50 per cent). Bank Rate plus 3.0 percentage points (11.25 per cent) or Bank Rate plus 5.0 percentage points (13.25 per cent).

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

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