:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

BASE RATE TO REPLACE BPLR FROM APRIL 1

Banks will have to adopt the ‘Base Rate' system in place of the current Benchmark Prime Lending Rate system from April 1 The Base Rate will be the minimum rate for all commercial loans and banks will not be permitted to resort to any lending below this rate.

The Base Rate system would be applicable for all new loans and for those old loans that come up for renewal.

The RBI has withdrawn the current stipulation of BPLR as the ceiling rate for loans up to Rs 2 lakh to increase credit flow to small borrowers.

Source: http://www.thehindubusinessline.com/2010/02/11/stories/2010021153720100.htm

Posted by C.B.O.A., A.P.

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