Repo rates under Marginal Standing Facility reduced to 6.25%
Aug
03
2017
Repo rates under Marginal Standing Facility reduced to 6.25%
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corporate
The Reserve Bank of India has issued a Circular dated August 2nd, 2017 to The Chairperson / CEOs of all Scheduled and Non Scheduled Banks regarding Change in Bank Rate.
As announced in the Third Bi-Monthly Monetary Policy Statement 2017-18 dated August 02, 2017, the Bank Rate stands adjusted by 25 basis points from 6.50 per cent to 6.25 per cent with effect from August 02, 2017.
Consequent to the change in the Repo Rate, Marginal Standard Facility (MSF) rates stands adjusted to 6.25% with immediate effect.
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.
