RBI/2014-15/345
FIDD.CO.Plan.BC.46/04.09.59/2014-15
December 10, 2014
The Chairman/Managing Director/
Chief Executive Officer
(All Scheduled Commercial Banks excluding RRBs)
Dear Sir/Madam,
RIDF and other funds
Please refer to our Circular RPCD.CO.Plan.BC.66/04.09.54/2011-12 dated March 16, 2012 on the above subject. In this connection, it has been decided to restructure the classification of shortfall and interest payable to banks falling in these categories on deposits placed by them in the above funds, prospectively with immediate effect, as under:
|
Deposit Rates |
||
|
S. No. |
Shortfall in overall priority sector lending target |
Revised Rates |
|
1 |
Less than 5 percentage points | Bank Rate minus 2 percentage points |
|
2 |
5 and above, but less than 10 percentage points | Bank Rate minus 3 percentage points |
|
3 |
10 percentage points and above | Bank Rate minus 4 percentage points |
2. Please acknowledge receipt.
Yours faithfully,
(A Udgata)
Principal Chief General Manager
