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 RBI, on the last working day of every quarter, comes out with the average of the base rates of the five largest commercial banks. Reuters
Written By: PTI
Updated: Fri, Mar 29, 2019
10:08 pm
PTI
RELATED NEWS
Over Rs 1 lakh cr investment in oil, gas projects lined up in AP: Dharmendra Pradhan Over Rs 1 lakh cr investment in oil, gas projects lined up in AP: Dharmendra Pradhan
Centre to release another Rs 35,000 cr compensation to states soon Centre to release another Rs 35,000 cr compensation to states soon
12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy 12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy

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.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.