India - Lending Rate





India: Lending Rate

Mnemonic IRLEND.IIND
Unit %, NSA
Adjustments Not Seasonally Adjusted
Friday Weekly
Data 08 Nov 2019 5.4
01 Nov 2019 5.4

Series Information

Source Reserve Bank of India
Release Interest Rates
Frequency Weekly Friday
Start Date 8/6/1998
End Date 11/7/2019

India: Markets

Reference Last Previous Units Frequency
Monetary Policy Rate 14 Nov 2019 5.15 5.15 %, NSA Daily
Money Market Rate 14 Nov 2019 4.9 4.9 %, NSA Daily
Stock Market Index 14 Nov 2019 40,286 40,116 Index, NSA Daily
Lending Rate 08 Nov 2019 5.4 5.4 %, NSA Friday Weekly
Average Long-term Government Bond 25 Sep 2019 5.6 5.6 % p.a., NSA Wednesday Weekly
Treasury Bills (over 31 days) 25 Sep 2019 5.5 5.46 % p.a., NSA Wednesday Weekly

Release Information

The bank rate is the standard rate at which the Reserve Bank of India is prepared to buy or re-discount bills of exchange or other commercial paper eligible for purchase under the Reserve Bank of India Act, 1934. Prime lending rates refer to the benchmark lending rates announced by banks for commercial credit.

Coverage characteristics

Data are disseminated on the following:

  • The bank rate, which is the rate at which the RBI is prepared to buy or rediscount bills of exchange or other commercial paper eligible for purchase under the Reserve Bank of India Act, 1934. The interest rates on accommodation from the Reserve Bank of India (RBI) are linked to the repo rate and bank rate.
  • (b) The 91-day, 182-day, and 364-day Treasury Bill rates, which are the yields at cut-off prices (that is, minimum prices at which Treasury Bills and dated securities are allocated at auctions) determined by the RBI.
  • (c) Government securities auction rates on 2-30 year securities.
  • (d) The prime lending rate relating to 5 major public sector banks.

With respect to a policy variable rate, the RBI gives interest rate signals through a number of interest rates, viz., the RBI's repo/reverse repo rate and  the bank rate. As such, the RBI follows a multiple indicator approach to influence market rates of interest.

Periodicity

  • Daily for government securities trading in the secondary markets.
  • Weekly for weekly auction rates of 91-day Treasury Bills and the fortnightly  data on the prime lending rates.
  • Every two weeks for 182-day and 364-day Treasury Bills issued every two weeks.
  • Whenever auctions or issues take place for 2-30 year Government dated securities.
  • Whenever the rate is modified in the case of the bank rate.

Valuation

The maximum and minimum benchmark prime lending rates are provided as percentage and per annum basis. Bank rate is also annual percentages.

Source data collection programs

Data on prime lending rates are obtained by way of specific returns.

Other statistical procedures

No seasonal adjustments or estimations are done.

The data for the 10-year rate refers to the par yield rates.

The data are final when first released and are not subject to revision.