June 30, 2014 / 10:28 AM / 4 years ago

India cbank: base rate for non-bank micro finance cos 10.09 pct for qtr starting July

MUMBAI, June 30 (Reuters) - The average base lending rate for non-bank micro finance companies to arrive at the interest rates they can charge to borrowers will be 10.09 percent for the quarter starting July 1, the Reserve Bank of India said on Monday.

The RBI had said in February that it will advise the average of the base rates of five largest banks to the non-bank micro finance institutions on the last working day of the quarter. (Reporting by Suvashree Dey Choudhury; Editing by Sunil Nair)

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