RBI Rates & Useful Links
RBI CURRENT RATES
Bank Rate - 8.75% w.e.f. 15th Jul 2013
Repo Rate - 8.00% w.e.f. 28th Jan 2014
Rev Repo Rate-7.00% w.e.f. 28th Jan 2014
M.S. Facility - 9.00% w.e.f. 28th Jan 2014
CRR - 4.00% w.e.f. 9th Feb 2013
SLR - 23.00% w.e.f. 11th Aug 2012
RBI Master Circulars (Jul 01 2013)
Third Quarter Review of Monetary Policy (28th Jan 2014)
On the basis of an assessment of the current and evolving macroeconomic situation, RBI has decided to:
increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.75 per cent to 8.0 per cent; and
keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liability (NDTL).
Consequently, the reverse repo rate under the LAF stands adjusted at 7.0 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 9.0 per cent.
RBI's notification dated 22.01.2013
The Reserve Bank of India has advised that after March 31, 2014, it will completely withdraw from circulation all banknotes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication. The Reserve Bank further stated that public can easily identify the notes to be withdrawn as the notes issued before 2005 do not have on them the year of printing on the reverse side.
The Reserve Bank has also clarified that the notes issued before 2005 will continue to be legal tender. This would mean that banks are required to exchange the notes for their customers as well as for non-customers. From July 01, 2014, however, to exchange more than 10 pieces of `500 and `1000 notes, non-customers will have to furnish proof of identity and residence to the bank branch in which she/he wants to exchange the notes.
The Reserve Bank has appealed to the public not to panic. They are requested to actively co-operate in the withdrawal process. (Source RBI notifications)
Information for Registered Users
for further details.
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