Thursday, 3 April 2014

BASE RATE

The Base Rate is the minimum interest rate of a bank below which it cannot lend, except in cases allowed by RBI.

The Base Rate system has replaced the BPLR system with effect from July 1, 2010.

As per RBI guidelines, the following categories of loans could be priced without reference to Base Rate:

1. DRI Advances (Differential Rate of Interest Scheme)

2. Loans to banks own employees including retired employees.

3. Loans to banks depositors against their own deposits.

Base Rate is reviewed by the respective banks at least on quarterly basis and the same is to be disclosed publicly.

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