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Reduction in Interest Rates

Dated:- 31-7-2015 - The Reserve Bank of India (RBI) has deregulated the interest rates on term deposits from October, 1997. Accordingly, banks are now free to fix the interest rates on term deposits subject to the approval of their respective Boards. The RBI has also deregulated the savings bank deposit interest rate with effect from October 25, 2011. Accordingly, banks are now free to determine their savings bank deposit interest rate, subject to the following two conditions: i) Each bank is re .....

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environment, banks have complete freedom in deciding their spread, risk premia, term premia and other customer specific charges as considered appropriate on the loans and advances based on their commercial judgement. However, there are some exceptions where the loans can be priced without reference to the Base Rate viz: Differential Rate of Interest (DRI) advances, loans to banks own employees and loans to banks depositors against their own deposits. As are as managing NPAs is concerned, RBI an .....

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