RBI sets NBFC-MFIs' average base rate at 9.21% for Apr-Jun

The regulator in February 2014 had issued directions to NBFC-MFIs regarding pricing of credit.

RBI sets NBFC-MFIs' average base rate at 9.21% for Apr-Jun

The Reserve Bank Friday set the average base rate to be charged from borrowers by non-banking financial companies (NBFCs) and micro-finance institutions (MFIs) at 9.21 per cent for the first quarter of the next fiscal.

The applicable average base rate to be charged by Non-Banking Financial Company Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning April 01, 2019 will be 9.21 per cent, the RBI said in a notification.

The regulator in February 2014 had issued directions to NBFC-MFIs regarding pricing of credit.

Watch This Zee Business Video

The RBI, on the last working day of every quarter, comes out with the average of the base rates of the five largest commercial banks for the purpose of arriving at the interest rates to be charged by NBFC-MFIs to its borrowers in the ensuing quarter.

Written By: PTI
Updated: Fri, Mar 29, 2019
10:08 PM IST
PTI
RELATED NEWS
EXPLAINED! Anil Singhvi on his campaign to protect investors and save their hard-earned money; reveals market strategy going forward EXPLAINED! Anil Singhvi on his campaign to protect investors and save their hard-earned money; reveals market strategy going forward
Good news amid coronavirus! India to emerge as fastest growing G20 economy - Here is how Good news amid coronavirus! India to emerge as fastest growing G20 economy - Here is how
Cost of coronavirus lockdown: Covid 19 fight will come at high economic cost, beat 2008 crisis, say analysts Cost of coronavirus lockdown: Covid 19 fight will come at high economic cost, beat 2008 crisis, say analysts

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x