Latest Important Banking Sector Data - 2013
Bank Rate
| 8.50% (w.e.f. close of business of 19/03/2013) |
Decreased from 8.75% to 8.50% which was continuing since 29/01//2013
|
[Remember Bank Rate is not the same thing as Deposit Rates offered by banks for fixed deposits and recurring deposits. If you are a non banker and have landed on this page while looking at Deposit Rates, please click here to go to correct page i.e. Best Deposit Rates offered by banks for fixed deposits]
| Cash Reserve Ratio (CRR) | 4.00% (wef 09/02/2013) -announced on 29/01/2013 | Decreased from 4.25%which was continuing since 30/10/2012 |
Statutory Liquidity Ratio (SLR)
| 23%(w.e.f. 11/08/2012) (announced on 31/07/2012) |
Decreased from 24% which was continuing since 18/12/2010
|
Repo Rate under LAF
| 7.50% (w.e.f.
19/03/2013)
|
Decreased from 7.75% which was continuing since 29/01/2013
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Reverse Repo Rate under LAF *
| 6.50% (w.e.f.
19/03/2013)
|
Decreased from 6.75% which was continuing since 29/01/2013
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RBI reduces REPO Rate by 25 basis points from i.e. it has been reduced from 7.75 per cent to 7.50 per cent wef 19/03/2013 . Consequently, the (a) Reverse Repo rate adjusted to 6.5 per cent; and the (b) Marginal Standing Facility (MSF) Rate and the Bank Rate reduced to 8.5 per cent. (uploaded on 19/03/2013 at 11.00 AM)
*Reverse Report rate was an independent rate till 03/05/2011. However, in the monetary policy announced on 03/05/2011, RBI has decided that now onwards the Reverse Repo Rate will not be announced separately, but will be linked to Repo rate and it will always be 100 bps below the Repo rate (till RBI decides to delink the same)
Marginal Standing Facility (MSF) **
| 8.50% (w.e.f. 19/03/2013) |
Decreased from 8.75% which was continuing since 29/01/2013
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** The concept of Marginal Standing Facility has been announced by RBI wef 03/05/2011 (However implemented wef 09/05/2011). It was decided that Marginal Standing Facility i.e. MSF rate will be linked to Repo rate and it will always be 100 bps above the Repo Rate (till RBI decides to delink the same). What is Marginal Standing Facility or What is MSF?
Saving Deposits - For residents
RBI has amended the rate of interest on SF accounts in exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949
| Deregulated by RBI wef 25/10/2011 |
It remained regulated by RBI till 24th October, 2011.
(a) It was 4% between 3/5/2011 to 24/10/2011;
(b) It was 3.50% between 1/3/2003 to 2/5/2011)
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| Saving Deposits under NRO and NRE categories | 4% wef (03/05/2011) | Increased from 3.50% which was continuing since 1st March, 2012 |
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