Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Average Base Rate Charged By NBFC-MFIs Is 7.95% Now: RBI

This is done to conclude the loan rates to be charged by NBFC-MFIs from their borrowers in the upcoming quarter.

Photo Credit :

1592899775_7Uxh1r_RBI_final.jpg

The Reserve Bank, on Thursday, said that it has fixed the average base rate for NBFC-MFIs to 7.95 per cent for the quarter beginning October 1, 2021, from 7.98 per cent for the September quarter. 

The Reserve Bank additionally informs the average base rates of the five biggest business or commercial banks on the last working day of each quarter. 

This is done to conclude the loan rates to be charged by NBFC-MFIs from their borrowers in the upcoming quarter. 

The RBI, earlier said the loan interest rates charged by an NBFC-MFI will be the lower of the expense of assets notwithstanding the margin or the average base pace of the five biggest commercial banks by resources multiplied by 2.75.


Tags assigned to this article:
rbi Average Base Rate NBFC-MFI