Table 68 : Structure Of Interest Rates

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Published on August 31, 2004

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Table 68 : Structure Of Interest Rates

														(Per cent per annum)
Year		Call/Notice money rates ⁽ⁱ⁾		Commercial bank rates
				Deposit rates ^{(ii) (iii)}						Lending rates
				1 to 3 yrs.		Over 3 yrs. & upto 5 yrs.		Above 5 yrs.		SBI advance rate ^(iv)	Key lending rates as prescribed by RBI (All commercial banks including SBI)
											Ceiling rate general	Minimum rate general ^{(v) (vi)}		Minimum rate selective credit control
1		2		3		4		5		6	7	8		9
1970-71		6.38		6.00-6.50		7.00		7.25		7.00-8.50	-	-		-
1971-72		5.16		6.00		6.50		7.25		8.50	-	-		12.00
1972-73		4.15		6.00		6.50		7.25		8.50	-	-		12.00
1973-74		7.83		6.00		7.00		7.25		8.50-9.00	-	10.00-11.00		12.00-13.00
1974-75		12.82		6.75-8.00		7.75-9.00		8.00-10.00		9.00-13.50	-	11.00-13.00		14.00-15.00
1975-76		10.55		8.00		9.00		10.00		14.00	16.50	12.50		14.00-15.00
1976-77		10.84		8.00		9.00		10.00		14.00	16.50	12.50		14.00-15.00
1977-78		9.28		6.00		8.00		9.00		13.00	15.00	12.50		14.00-15.00
1978-79		7.57		6.00		7.50		9.00		13.00	15.00	12.50		14.00-15.00
1979-80		8.47		7.00		8.50		10.00		16.50	18.00	12.50		15.50-18.00
1980-81		7.12		7.50-8.50		10.00		10.00		16.50	19.40-19.50	13.50		16.70-19.50
1981-82		8.96		8.00-9.00		10.00		10.00		16.50	19.50	-		17.50-19.50
1982-83		8.78		8.00-9.00		10.00		11.00		16.50	19.50	-		17.50-19.50
1983-84		8.63		8.00-9.00		10.00		11.00		16.50	18.00	-		16.50-18.00
1984-85		9.95		8.00-9.00		10.00		11.00		16.50	18.00	-		16.50-18.00
1985-86		10.00		8.50-9.00		10.00		11.00		16.50	17.50	-		16.50-17.50
1986-87		9.99		8.50-9.00		10.00		11.00		16.50	17.50	-		16.50-17.50
1987-88		9.88		9.00-10.00		10.00		10.00		16.50	16.50	-		16.50
1988-89		9.77		9.00-10.00		10.00		10.00		16.50	-	16.00		16.00
1989-90		11.49		9.00-10.00		10.00		10.00		16.50	-	16.00		16.00
1990-91		15.85		9.00-10.00		11.00		11.00		16.50	-	16.00		16.00
1991-92		19.57		12.00		13.00		13.00		16.50	-	19.00		19.00
1992-93		14.42		11.00		11.00		11.00		19.00	-	17.00		17.00
1993-94		6.99		10.00		10.00		10.00		19.00	-	14.00		15.00
1994-95		9.40		11.00		11.00		11.00		15.00	-	15.00	@	Free
1995-96		17.73		12.00		13.00	!	13.00	!	16.50	-	16.50	@	Free
1996-97		7.84		11.00-12.00	!	12.00-13.00	!	12.50-13.00	!	14.50	-	14.50-15.00	@	Free
1997-98		8.69		10.50-11.00	!	11.50-12.00	!	11.50-12.00	!	14.00	-	14.00	@	Free
1998-99		7.83		9.00-11.00	!	10.50-11.50	!	10.50-11.50	!	12.00-14.00	-	12.00-13.00	@	Free
1999-00		8.87		8.50-9.50	!	10.00-10.50	!	10.00-10.50	!	12.00	-	12.00-12.50	@	Free
2000-01		9.15		8.50-9.00	!	9.50 - 10.00	!	9.50-10.00	!	11.50	-	11.00- 12.00	@	Free
2001-02		7.16		7.50 - 8.50	!	8.00 - 8.50	!	8.00 - 8.50	!	11.50	-	11.00-12.00	@	Free
2002-03		5.89		4.25 - 6.00	!	5.50 - 6.25	!	5.50 - 6.25	!	10.75	-	10.75-11.50	@	Free
2003-04		4.33		4.00-5.25	!	5.25-5.50	!	5.25-5.50	!	10.25	-	10.25-11.00	@	Free
2004-05	^	4.32	^^	4.00-5.25	!	5.25-5.50	!	5.25-5.50	!	10.25	-	10.25-11.00	@	Free

													(Per cent per annum)
Year	Prime lending rates of term lending institutions									Units of UTI # (July-June)		Annual (gross) redemption yield of Government of India securities @@ ^(x)
	IDBI		IFCI		ICICI		IIBI / IRCI ^(vii)		*SFCs ^(viii)**
										Dividend rate	Yield rate ^(ix)	Short-term (1-5 yrs.)	Medium-term (5-15 yrs.)	Long-term (15 yrs. & above)
1	10		11		12		13		14	15	16	17	18	19
1970-71	8.50		9.00		8.50		-		7.50-10.50	8.00	7.55	3.85-4.28	4.32-4.84	4.77-5.53
	(7.00-8.50)
1971-72	8.50		9.00		8.50		-		8.50-11.00	8.25	.	4.21-4.17	4.53-5.25	5.00-5.74
	(7.50-8.00)
1972-73	8.50		9.00		8.50		-		8.50-10.50	8.50	.	4.46-4.98	4.08-5.28	5.00-5.74
	(7.50-9.75)
1973-74	9.00		9.50		9.00		8.50		9.00-11.00	8.50	.	4.47-5.05	4.74-5.34	5.00-5.74
	(7.50-10.50)
1974-75	10.25		11.25		10.25		8.50		8.00-13.00	8.60	8.25	5.00-5.65	5.18-5.99	5.93-6.39
	(8.00-10.50)
1975-76	11.00		12.00		11.00		8.50		8.00-14.50	8.75	8.33	5.20-6.04	5.47-6.02	6.08-6.48
	(8.00-11.00)
1976-77	11.00		11.00		11.00		8.50		8.00-15.50	9.00	8.51	5.18-5.59	5.43-5.97	6.02-6.47
	(8.00-11.00)
1977-78	11.00		11.00		11.00		8.50		8.00-15.50	9.00	7.96	5.06-5.59	5.42-5.98	6.03-6.46
	(8.00-11.00)
1978-79	11.00		11.00		11.00		8.50		8.00-15.50	9.00	7.67	5.12-5.48	5.47-6.25	6.12-6.73
	(8.00-11.00)
1979-80	11.00		11.00		11.00		8.50		8.00-15.50	10.00	8.56	4.70-5.74	5.70-6.30	6.20-6.98
	(8.00-11.00)
1980-81	14.00		14.00		14.00		9.15		12.00-16.00	11.50	9.62	4.74-6.01	5.80-6.75	6.44-7.49
	(12.00-14.50)
1981-82	14.00		14.00		14.00		9.15		11.25-14.00	12.50	10.29	5.32-6.43	5.81-7.02	6.45-8.00
	(12.50-14.00)
1982-83	14.00		14.00		14.00		12.50		12.50-17.00	13.50	10.65	4.98-8.46	6.25-7.77	6.46-9.00
	(12.50-14.50)
1983-84	14.00		14.00		14.00		12.50		14.00-18.00	14.00	10.49	4.50-7.08	6.67-9.04	6.47-10.00
	(11.50-16.50)
1984-85	14.00		14.00		14.00		12.50		14.00-20.00	14.25	10.44	4.20-8.31	6.47-9.04	7.93-10.50
	(12.50-18.50)
1985-86	14.00		14.00		14.00		12.50		11.50-16.50	15.25	11.75	5.42-9.84	6.49-9.50	8.38-11.50
	(11.50-16.50)
1986-87	14.00		14.00		14.00		12.50		11.50-16.50	16.00	12.27	5.09-11.60	6.50-10.86	8.88-11.50
	(11.50-16.50)
1987-88	14.00		14.00		14.00		14.00		11.50-16.50	16.50	12.56	6.86-15.78	6.51-11.73	9.17-11.50
	(11.50-16.50)
1988-89	14.00		14.00		14.00		14.00		11.50-16.50	18.00	13.58	7.03-23.88	6.76-13.77	9.36-11.73
	(11.50-16.50)
1989-90	14.00		14.00		14.00		14.00		11.50-16.50	18.00	13.35	7.56-18.36	7.69-15.06	10.05-11.80
	(11.50-16.50)
1990-91	14.00-15.00		14.00-15.00		14.00-15.00		14.00-15.00		9.00-20.00	19.50	14.03	7.04-21.70	9.44-12.70	10.86-12.04
1991-92	18.00-20.00		18.00-20.00		18.00-20.00		18.00-20.00		9.00-20.00	25.00	16.40	8.37-26.26	9.50-13.42	9.91-12.38
1992-93	17.00-19.00		17.00-19.00		17.00-19.00		18.50-21.00		(11.50-20.00)	26.00	19.06	9.08-23.77	9.50-14.78	8.82-12.47
1993-94	14.50-17.50		14.50-17.50		14.50-17.50		14.50-17.50		(11.50-20.00)	26.00	17.68	11.86-12.86	12.70-13.30	12.85-13.43
1994-95	15.00		14.50-18.50		14.00-17.50		14.50-17.50		(12.00-13.50)	26.00	16.33	9.75-11.76	11.30-13.86	11.77-13.47
1995-96	16.00-19.00		16.00-20.00		14.00		15.50-18.50		(12.00-13.50)	20.00	12.66	6.00-14.28	5.75-14.07	11.84-13.02
1996-97	16.20		15.00-19.50		16.50		17.00		(12.00-27.50)	20.00	13.95	5.21-16.21	5.75-14.44	9.00-14.20
1997-98	13.30		14.50-18.00		14.00-14.50		12.50-13.50		(12.00-18.00)	20.00	13.85	5.50-17.69	5.20-14.00	9.00-13.17
1998-99	13.50		13.50-17.00		13.00		.		12.00-18.50	13.50	9.46	4.45-17.73	5.75-13.74	10.00-13.46
1999-00	13.60-17.10	$	13.50-17.00	$	12.50	$	14.00		12.00-18.00	13.75	10.19	3.18-14.30	6.50-13.84	9.79-13.11
2000-01	14.00		13.00		12.50		13.25		9.75-17.00	10.00	7.32	4.94-16.66	9.37-12.50	10.58-11.89
2001-02	11.50				12.50		11.50		9.50-16.75	.	.	5.32-10.96	5.14-13.85	7.41-10.86
2002-03	10.20	*	12.50	*	-		11.00	*	9.50-14.50	.	.	5.12-10.98	5.60-9.27	6.10-8.76
2003-04	8.90	*	12.50	*	-		8.50	**	9.50-14.51	.	.	3.93-7.16	4.41-6.78	5.44-7.72
! Refers to the deposit rates of 5 major public sector banks as at end-March. @ Refers to the Prime Lending Rates of 5 major public sector banks. ^ Up to July 23, 2004. ^^ Up to August 11, 2004. # Data for Dividend Rate and Yield Rate are based on data received from Unit Trust of India. @@ Based on redemption yield which is computed from 2000-01 as the mean of the daily weighted average yield of the transactions in each traded security. The weight is calculated as the share of the transaction in a given security in the aggregated value of transactions in the said security. Prior to 2000-01, the redemption yield was not weighted and was computed as an average of daily prices of each security. $ Relates to long-term prime lending rates in January 2000. * Long-term (over 36-month) PLR. Single PLR effective July 31, 2003. Note : 1. ICICI ceased to be a term-lending institution after its merger with ICICI Bank. 2. Figures in brackets indicate lending rate charged to small scale industries. For superscripts (i) to (x) on items in this table, see Notes on Tables. Source** : 1. Respective financial institutions. 2. Reserve Bank of India.