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English Release 21-May 2013
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- Presidents Secretariat
- Premier of the State Council of China calls on President
- Election Commission
- Schedule for bye-election to fill casual vacancy from 2 – Mandi Parliamentary Constituency (Himachal Pradesh) - Regarding
- Min of Agriculture
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Farmers, Farming Communities to be Honoured for Conserving Plant Genetic Resources
- Min of Defence
- Offshore Patrol Vessel (OPV)ICGS ‘Vaibhav’commissioned
- Min of Environment and Forests
- Development of Community Forest Resources
- Ministry of Finance
- Shashi Kant Sharma, Defence Secretary Appointed as the New Comptroller & Auditor General of India
- Rationalisation of With-Holding Tax (WHT) to Encourage Greater Subscription in Indian Debt Securities by Foreign Investors, Encourage Development of the Indian Debt Market and Accelerate the Pace of Growth of the Indian Economy
- Government urges all tax Payers to Disclose their True income and pay Appropriate taxes within the Current Financial Year;
- Min of Health and Family Welfare
- Indo- Swiss Bilateral Meet Held at Geneva
- Min of Home Affairs
- Anti-Terrorism Day Observed
- Min of Personnel, Public Grievances & Pensions
- ACC Appointments
- Min of Petroleum & Natural Gas
- International crude oil price of Indian Basket Rises sharply
to 102.50/US$ bbl on 20.5.2013
- Min of Power
- Sustainability Report of NTPC Released
- Min of Steel
- Steel Minister reviews SAIL’s performance and progress of Modernisation and Expansion
- Planning Commission
- Minister Administers Anti-Terrorism Oath
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Ministry of Finance07-December, 2012 18:33 IST
Rate of Interest on Home Loans
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Reserve Bank of India had deregulated the interest rates on advances sanctioned by Scheduled Commercial Banks, with effect from October 18, 1994 and these interest rates were determined by bank themselves with the approval of their Boards, subject to Benchmark Prime Lending Rate (BPLR) and spread guidelines.
The above guidelines based on the BPLR system have been replaced by new guidelines on the Base Rate System issued vide circular dated April 9, 2010, which have come into force with effect from July 1, 2010. In terms of the new guidelines, banks determine their actual lending rate on loans and advances with reference to the Base Rate. All categories of loans, except specified exemptions, are priced only with reference to the Base Rate, which is announced by banks after seeking approval from their respective Boards. The Banks are not permitted to resort to any lending below the Base Rate.
This was stated by the Minister of State for Finance, Shri Namo Narian Meena in a written reply to a question in the Lok Sabha today.
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DSM/RS/ka
(Release ID :90217)
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