New Bank Rate and MSF are 10.25%

In a move to stem the continuing fall of rupee, the Reserve Bank of India (RBI) has raised in short-term rates with effect from July 15, 2013.  It will help to restore stability to the foreign exchange market .  Last week the Indian currency touched an all-time low of 61.21 vis-a-vis USD. The Reserve Bank of India had not stepped in to curb rupee fall initially, but after a meeting with the government decided to raise the marginal standing facility or MSF along with Bank Rates. So, the RBI has raised Bank Rate to 10.25% from 8.25%. In result the marginal standing facility (MSF) rate also raised to 10.25%. Remaining rates will be unchanged. This will be an indirect rate hike and will reduce the pressure on the rupee. 

Check Current Rates of RBI from here

05:18 - By Unknown 0