Applicable Average Base Rate to be charged by NBFC-MFIs for the Quarter Beginning July 1, 2018

Jul 13, 2018 | by Avantis RegTech Legal Research Team

The Reserve Bank of India (RBI) has announced that 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 July 1, 2018 will be 8.92%.

The RBI had, in its Circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise 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.

[Press Release : 2017-2018/3416]




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