The Reserve Bank of India (RBI) on Monday realigned the bank rate to marginal standing facility (MSF) rate in one-time technical adjustment. The bank rate now stands at 9.5 per cent as against six per cent earlier.Any change in the MSF rate will lead to revision in the bank rate accordingly. The MSF rate is linked to the policy rate or repo rate, which is at 8.5 per cent. “This should be viewed and understood as a one-time technical adjustment to align the bank rate with the MSF rate, rather than a change in the monetary policy stance,” said RBI in a statement.
Source: Business Standard
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