RBI sets Average Base Rate to be charged by NBFC-MFIs at 9.21% for Apr-Jun
- The Reserve Bank of India has set the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the first quarter of the next fiscal beginning April 01, 2019 at 9.21 percent.
***Note – On the last working day of every quarter, RBI 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.
Points to Remember:
- Average Base Rate to be charged by NBFC-MFIs in qtr April-June 2019?