- India's crisis within a crisis: FM Chidambaram fights on two frontsTop bankers hail work of outgoing RBI chief Duvvuri SubbaraoWhat will keep Raghuram Rajan busy in RBI hot seat, what will he axe? Take a lookDeepak Parekh: Emerging markets may remain shaky for 18 months, RBI has failed to spur economic growth
The RBI has allowed banks that commenced operations after July 2010 some flexibility in the computation and revision of base rates. Banks that have started operations after July 2010 but have not completed a year of banking operations will be allowed to revise their base rate methodology within a year from the date of commencement of their business operations in India.
Banks that will commence their banking business in India after issue of this circular will be allowed to revise their base rate methodology within a year from the date of commencement of their banking business in India, the RBI added.