The Reserve Bank of India (RBI) on 4 October 2019 slashed the repo rate by 25 basis points (bps) after which the repo rate stands at 5.15%. The bank rate has also been cut down which takes the current figure to 5.40%. Base Rate: The Reserve Bank of India sets a minimum rate below which banks in India are not allowed to lend to their customers. This minimum rate is called the Base Rate in banking terms. It is the minimum rate of interest the banks are permitted to charge their customers. The new Base Rate as fixed by RBI is in the range of 8.95% - 9.40% p.a. RBI does not decide the PLR Rate of any NBFC or HFC. RBI only announces the repo rate, which influences the cost of raising new funds for the housing finance company. HFCs may or may not decide to change their PLR rate in response to changes in the repo rate.

With the RBI introducing the benchmark Prime Lending Rate (PLR), all banks and non-banking finance companies are offering the PLR rate in India. Banks, with  Key lending rates as prescribed by RBI upto 5 yrs. advance. (All commercial Prime lending rates of term lending institutions. Units of UTI #. Annual (gross)  Other Rupee Floating rate loans [excluding exceptions permitted by RBI] will, The 'Benchmark PLR' of Kotak Mahindra Bank Ltd with effect from October 31,  24 Jan 2016 When the RBI cut the repo rate, the base rate of commercial banks tend to decline too. On October 6, HDFC Bank cut its retail prime lending  5 Apr 2019 including the current MCLR and older benchmarks like the Prime Lending Rate (PLR), Benchmark Prime Lending Rate (BPLR) and the base  Current MCLR, Base Rate, PLR Trend of All Banks in India Oct 2019. 4th October 2019 – RBI cuts repo rate by 25 bps to 5.15%. Repo Rate has been cut by 25 bps by RBI from 5.40% to 5.15% in its 4th bi-monthly monetary policy on 4th October 2019.

PLR (Prime Lending Rate) is the internal benchmark rate used for setting up the interest rate on floating rate loans sanctioned by Non Banking Financial 

With the RBI introducing the benchmark Prime Lending Rate (PLR), all banks and non-banking finance companies are offering the PLR rate in India. Banks, with  Key lending rates as prescribed by RBI upto 5 yrs. advance. (All commercial Prime lending rates of term lending institutions. Units of UTI #. Annual (gross)  Other Rupee Floating rate loans [excluding exceptions permitted by RBI] will, The 'Benchmark PLR' of Kotak Mahindra Bank Ltd with effect from October 31,  24 Jan 2016 When the RBI cut the repo rate, the base rate of commercial banks tend to decline too. On October 6, HDFC Bank cut its retail prime lending  5 Apr 2019 including the current MCLR and older benchmarks like the Prime Lending Rate (PLR), Benchmark Prime Lending Rate (BPLR) and the base 

If a bank is charging in a borrower’s account an interest rate of 12 percent with quarterly rests, the effective rate is 12.55 percent. If the bank charges in the same account an interest rate of 12 percent at monthly rests, the effective rate comes to 12.68 percent.

April 14, 2015 Dear All Welcome to the refurbished site of the Reserve Bank of India. The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge. Prime Lending Rate (PLR) System. II.2 After the introduction of the financial sector reforms in the early 1990s, the Reserve Bank initiated various measures to progressively deregulate the interest rates – both deposit and lending rates.

RBI has helped the banks in this transition. It started with introduction of prime lending rate, then base rate, finally dynamic pricing of base rate. This paper is an  

April 14, 2015 Dear All Welcome to the refurbished site of the Reserve Bank of India. The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.

BENCHMARK PRIME LENDING RATE (HISTORICAL DATA). Effective Date, Interest Rate (%). 01.04.2018. 13.45. 01.01.2018.

24 Jan 2016 When the RBI cut the repo rate, the base rate of commercial banks tend to decline too. On October 6, HDFC Bank cut its retail prime lending  5 Apr 2019 including the current MCLR and older benchmarks like the Prime Lending Rate (PLR), Benchmark Prime Lending Rate (BPLR) and the base  Current MCLR, Base Rate, PLR Trend of All Banks in India Oct 2019. 4th October 2019 – RBI cuts repo rate by 25 bps to 5.15%. Repo Rate has been cut by 25 bps by RBI from 5.40% to 5.15% in its 4th bi-monthly monetary policy on 4th October 2019.

Current repo rate is 5.15% Reverse Repo rate is the short term borrowing rate at which RBI borrows money from banks. The Reserve bank uses this tool when it feels there is too much money floating in the banking system. The Base Rate is the minimum interest rate of a Bank below which it cannot lend, except in cases allowed by RBI. Ads by Google The Base Rate system has replaced the BPLR system with effect from July 1, 2010. Accordingly, data on lending rates of SCBs have undergone some changes for the quarter ended September 2010 onwards. First, banks are now advised to report interest rate range for the entire business contracted as against the earlier system of reporting interest rate range excluding 5 per cent of business contracted at extreme rates on either side.