Reserve Bank of India
RBI/2016-17/75
REF.No.MPD.BC.381/07.01.279/2016-17
Ashwina 12,1938(Saka)
October 4, 2016
To
All Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facility for
Primary Dealers
Please refer to the Fourth Bi-monthly Monetary Policy Statement, 2016-17 – Resolution of the Monetary Policy Committee (MPC), in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points from 6.5 per cent to 6.25 per cent with immediate effect.
2. Accordingly, the Standing Liquidity Facility provided to Primary Dealers (PDs) (collateralised liquidity support) from the Reserve Bank would be available at the revised repo rate, i.e., at 6.25 per cent with effect from October 4, 2016.
Yours faithfully,
(Janak Raj)
Principal Adviser
RBI/2016-17/74
DBR.No.Ret.BC.19/12.01.001/2016-17
October 04, 2016
The Chairperson / CEOs of all Scheduled and Non-Scheduled Banks,
Dear Sir,
Change in Bank Rate
Please refer to circular DBR.No.Ret.BC.90/12.01.001/2015-16 dated April 05, 2016 on the captioned subject.
2. As announced in the Fourth Bi-Monthly Monetary Policy Statement 2016-17 dated October 04, 2016, the Bank Rate stands adjusted by 25 basis points from 7.00 per cent to 6.75 per cent with effect from October 04, 2016.
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,
(S.S. Barik)
Chief General Manager-In-Charge
Encl: As above.
Annex
Penal Interest Rates which are linked to the Bank Rate
| Item | Existing Rate | Revised Rate (Effective from October 04, 2016) |
| Penal interest rates on shortfalls in reserve requirements (depending on duration on shortfalls). | Bank Rate plus 3.0 percentage points (10.00 per cent) or Bank Rate plus 5.0 percentage points (12.00 per cent) | Bank Rate plus 3.0 percentage points (9.75 per cent) or Bank Rate plus 5.0 percentage points (11.75 per cent) |
what is there for senior citizens above 80 years old?