{"id":271362,"date":"2022-08-08T15:30:53","date_gmt":"2022-08-08T10:00:53","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=271362"},"modified":"2022-08-08T11:12:10","modified_gmt":"2022-08-08T05:42:10","slug":"rbi-notifies-change-in-bank-rate","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/08\/08\/rbi-notifies-change-in-bank-rate\/","title":{"rendered":"RBI notifies change in Bank Rate"},"content":{"rendered":"<p style=\"text-align: justify;\">On 05-08-2022, the Reserve Bank of India has issued a notification regarding the change in the bank rate. The Bank Rate is revised upwards by 50 basis points from 5.15 per cent to 5.65 per cent. This shall come into force with immediate effect.<\/p>\n<p style=\"text-align: justify;\">The penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate:<\/p>\n<ul>\n<li style=\"text-align: justify;\"><strong>Existing Rate: <\/strong>Bank Rate plus 3.0 percentage points (7.25 per cent) or Bank Rate plus 5.0 percentage points (9.25 per cent).<\/li>\n<li style=\"text-align: justify;\"><strong>Revised Rate<\/strong>: Bank Rate plus 3.0 percentage points (7.65 per cent) or Bank Rate plus 5.0 percentage points (9.65 per cent).<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>On 05-08-2022, the Reserve Bank of India has issued a notification regarding the change in the bank rate. The Bank Rate is <\/p>\n","protected":false},"author":8808,"featured_media":253309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[50756,2732],"class_list":["post-271362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-bank-rate","tag-Reserve_Bank_of_India"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>RBI notifies change in Bank Rate | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2022\/08\/08\/rbi-notifies-change-in-bank-rate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI notifies change in Bank Rate\" \/>\n<meta property=\"og:description\" content=\"On 05-08-2022, the Reserve Bank of India has issued a notification regarding the change in the bank rate. 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