Bank Rate definition

Bank Rate means the one year marginal cost of lending rate (MCLR) of the State Bank of India issued from time to time plus 350 basis points;”

Bank Rate means the base rate of interest as specified by the State Bank of India from time to time or any replacement thereof for the time being in effect plus 350 basis points;”

Bank Rate means the rate of interest specified by the Reserve Bank of India from time to time in pursuance of section 49 of the Reserve Bank of India Act, 1934 or any replacement of such Bank Rate for the time being in effect;

Examples of Bank Rate in a sentence

• The "Bank Rate" means the rate of interest established by the Bank of Canada as the minimum rate at which it makes short term advances to members of the Canadian Payments Association.

• The Bank of England has effectively ruled out the use of negative interest rates in the near term and increases in Bank Rate are likely to be some years away given the underlying economic expectations.

• The NCC shall pay to the Contractor simple interest on the amount of a settled claim at the Average Bank Rate plus 3 per cent per annum from the date the settled claim was deemed to be outstanding until the day prior to the date of payment.

• The "Average Bank Rate" means the simple arithmetic mean of the Bank Rate in effect at 4:00 p.m. Ottawa Time each day during the calendar month which immediately precedes the calendar month in which payment is made.

• Simple interest shall be paid at the Average Bank Rate plus 3 % per year on any amount which is overdue.

More Definitions of Bank Rate

Bank Rate means the rate of interest specified by the Reserve Bank of India from time to time in pursuance of section 49 of the Reserve Bank of India Act, 1934 or any replacement of such Bank Rate for the time being in effect.

Bank Rate means the rate of interest established from time to time by the Bank of Canada as the minimum rate at which the Bank of Canada makes short term advances to members of the Canadian Payments Association;

Bank Rate means the rate fixed by the Reserve Bank of lndia (RBl) at the beginning of the financial year in which claim has fallen due)

Bank Rate means Bank rate fixed by the Reserve Bank of India (RBI) at the beginning of the financial year in which claim has fallen due.

Bank Rate means the Bank Rate declared by the Reserve Bank of India from time to time;

Bank Rate means the bank rate established by the Bank of Canada as the minimum rate at which the Bank of Canada makes short term advances to the banks listed in Schedule I to the Bank Act (Canada).

Bank Rate means the most recent applicable weighted average yield for one-year Bangladesh Treasury notes (expressed as a rate per annum), such yield established in the auction arranged by the Bangladesh Bank from time to time; provided, that if such auction is discontinued or withdrawn by Bangladesh Bank or otherwise such yield becomes unavailable for any reason, then the Parties shall agree (or if not agreed, as determined by the Expert pursuant to Section 19.3) and use a the rate that reflects the cost of one-year borrowing of the GOB from commercial lenders;