From THE HINDU group of publications
Sunday, November 04, 2001
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From THE HINDU group of publications Sunday, November 04, 2001 |
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New ceiling for NBFC deposit rates
The Reserve Bank of India has lowered the ceiling on NBFC deposit rates to 12.5 per cent from 14 per cent, effective November 1.
The new ceiling of 12.5 per cent per annum on interest rate has also been extended to miscellaneous (chit fund companies) and nidhi companies, as applicable to deposits accepted by them. -- BL Research Bureau
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