Since average base rate of banks is published by RBI on quarterly basis, it has
been decided to modify the above mentioned instructions as under:
“NBFC-MFIs shall ensure that the average interest rate on loans sanctioned
during a quarter does not exceed the average borrowing cost during the preceding
quarter plus the margin, within the prescribed cap.”
The “Master Direction -Non-Banking Financial Company-Non-Systemically
Important Non-Deposit taking Company (Reserve Bank) Directions, 2016” and
“Master Direction - Non-Banking Financial Company-Systemically
Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank)
Directions, 2016” dated September 01, 2016 are being updated to reflect the
changes.
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