:::::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:::::

RBI GIVES BANKS MORE TIME FOR BASE RATE METHODOLOGY CHANGE


The Reserve Bank of India has allowed banks six more months' time, up to June-end 2011, to change the benchmark and methodology used in the computation of Base Rate. The move is aimed at helping banks stabilise the system of Base Rate calculation.

Banks have been following the Base Rate-linked credit pricing system since July 1, 2010. Base Rate, among others, is the sum of a bank's cost of deposits/ funds, unallocatable overhead costs and average return on net worth. Banks cannot lend below this rate, which currently ranges from 8 to 9.5 per cent.

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

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