Reserve Bank today fixed the applicable rate of interest charged by NBFC-MFIs at 9.82 per cent for the quarter starting tomorrow.
"It is hereby brought to the notice of all concerned including the NBFC-MFIs that the applicable rate for the quarter beginning October 1, 2015 is 9.82 per cent," it said in a release.
The apex bank had earlier said that average of the base rates of the five largest commercial banks shall be advised by it on the last working day of every quarter, for the purpose of arriving at the interest rates to be charged by an NBFC-MFI to its borrowers in the ensuing quarter.
