https://www.taxtmi.com/circulars?id=54407 Bank rate reduced by seventy-five basis points, changing the reference rate used to compute penal interest on shortfalls in reserve requirements. Penal interest rates linked to the Bank Rate remain expressed as the Bank Rate plus specified margins and are revised downward to reflect the lower Bank Rate; banks must apply the revised structure from the effective date in the circular. en-us Tue, 05 Apr 2016 00:00:00 +0530 Wed, 06 Apr 2016 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54407 Bank rate reduced by seventy-five basis points, changing the reference rate used to compute penal interest on shortfalls in reserve requirements. Penal interest rates linked to the Bank Rate remain expressed as the Bank Rate plus specified margins and are revised downward to reflect the lower Bank Rate; banks must apply the revised structure from the effective date in the circular. Circulars RBI Tue, 05 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54407