Change in Bank Rate

Change in Bank Rate

RBI/2015-16/194
DBR.No.Ret.BC.42/12.01.001/2015-16

September 29, 2015

The Chairperson / CEOs of all Scheduled Commercial Banks /
Regional Rural Banks / Local Area Banks / All Primary (Urban) Co-operative Banks /
State & Central Co-operative Banks (StCBs / CCBs)

Dear Sir / Madam,

Change in Bank Rate

Please refer to our circulars DBR.No.Ret.BC.99/12.01.001/2014-15 dated June 02, 2015 and DCBR.BPD.(PCB/RCB).Cir.No.37/16.11.00/2014-15 dated June 2, 2015 on the captioned subject.

2. As announced in the Fourth Bi-Monthly Monetary Policy Statement 2015-16 dated September 29, 2015, the Bank Rate stands adjusted by 50 basis points from 8.25 per cent to 7.75 per cent with effect from September 29, 2015.

3. All penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised as indicated in the Annex.

Yours faithfully

(Lily Vadera)
Chief General Manager

Date : Sep 29, 2015

RBI Reference Rate for US $

The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 66.1843 on September 29, 2015.

The corresponding rate for the previous day (September 28, 2015) was ₹ 66.0805.

Based on the reference rate for the US Dollar and the middle rates of the cross-currency quotes, the exchange rate of EUR, GBP and JPY against the Rupee are given below:

Currency	Date
Currency	September 28, 2015	September 29, 2015
1 EUR	73.8119	74.6096
1 GBP	100.3168	100.4611
100 YEN	54.92	55.42
Note : The SDR-Rupee rate will be based on the reference rate.