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BL ears ae Oe RE: SHUR at a GS apes Reva cant att ae A, erat rat Fy wahenerdteror ea aa FO AY mg erat A HepM aT aX A FS cas a ‘art oie Ter wae FI fester 01.04.2016 at ar seh ag aa ae wa aw adiga Uret A Rarsa & ar AF an cast a a weet dash B sisa wera evant Rava & few wearitoe adore Rania siege Pet at ge a Fae were wala @ seat ee wT pr cat a A Ge ta a adil dela seat & far een sex daar 110/187 festa 29.12.2016 ar Hast Fi wert aratert amar after awa 110/19 feats 01.04.2016, 110/37 fee 06.05.2016 itt 110/147 Review 07.11.2016 & Hee sea ah ert sroRafela weer & biteke aera| Bank of india C & IC Department 7 | Head Office Branch Circular No. : 110/144 ‘Sub: Advances(C&IC) / 2016-171 4” Sub-subject : Interest Rates) 6 @ _ [Ref : C&IC:DH: Date : 04.01.2017 CIRCULAR TO ALL BRANCHES / OFFICES REVISION IN MCLR W.E-F. 07.01.2017 Please refer to Branch Circular No 110/170 dt 07.12.2016 advising Rate of Interest on Advances including Five benchmark MCLRs of various maturities applicable in respect of all new rupee loans sanctioned and all credit limits renewed. 2. Bank has since reviewed and published following 5 MCLRs of various maturities applicable w.e.f. 07.01.2017 as under: MCLR Since [Since | Since | Since | Since | Since | Since. |Since. | Since | Rates 1.04.16 7.05.16 7.06.16 07.07.16 07.08.16 07.09.16 07.10.16 7.11.16 07.12.16 | pa. till till til till til till til til til | wed 6.05.16 [06.06.16 06.07.16 6.08.16 [06.09.16 6.10.16 6.11.16 6.12.16 06.01.17 7.01.17 Overnight 9.15% | 9.15% | 9.18% | 9.15% | 9.16% | 9.15% | 9.00%| 9.00%] 9.00%) 8.10% MCLR Month MCLR | 6.20% | 920% | 9.20% | 9.20% | 920% | 9.20% | 9.15% | 9.10% | 9.05% | "8.25% Month MCLR | 9.25% | 9.25% | 9.25% | 9.25% | 9.25% | 9.25% | 9.20% | "9.10% | 9.10% | 8.30% month MCLR | 9.30% | 9.30% | 930% | 9.30% | 9.30% | 9.30% | 9.25% | 9.20% | 9.15% |" 8.40% ‘Year MCLR | 9.40% | 9.40% | 9.40% | 9.40% | 9.40% | 9.40% | 9.35% | 9.30% | 9.25% | 8.50% 3. Various Spreads applicable over and above benchmark MCLR In addition to above MCLR, RBI has permitted Banks to charge Spread for two components over and above applicable MCLR as under:- 1. Business Strategy Spread (BSS) 2. Credit Risk Premium (Credit Spread). 3.4.a Business Strategy Spread (BSS): BSS of 30 bps is applicable on all the loans & advances products w.e.f 25.04.2016 uniformly. 3.4.b Credit Risk Premium (Credit Spread): Credit Risk premium (Credit Spread) w.ef 01.01.2017 is as per Branch Circular No 110/186 dt 29.12.2016. 3.4.¢ Tenor Premium — not to be included At present Tenor premium is also loaded over and above Base Rate and Credit Risk Premium (Credit Spread) in all applicable accounts. Now, with the Tenor premium now being part of MCLR, no further tenor premium is to be added over and above applicable ROI as calculated above. 3.5 Computation of Rate of Interest:- The final rate of Interest applicable to all the new Advances accounts or in alll credit limits renewed on or after 01.04.2016 shall be as under: - te of Interest = MCLR+ Business Strategy spread + Credit Risk Premium # # no other component to be added over and above these three components like tenor premium etc. Page 1 of 2The credit spreads charged to an existing borrower should not be increased except on account of deterioration in the credit risk profile of the customer. Any such decision regarding change in spread on account of change in credit risk profile should be supported by a full-fledged risk profile review of the customer. This stipulation, however, is not applicable to loans under consortium / multiple banking arrangements. There will be no lending below the MCLR of a particular maturity for all Loans/Advances linked to that benchmark MCLR. 4. Reset of Interest Rate linked to MCLR: With the introduction of rate of interest on loans linked to MCLR, Bank will offer loans with reset dates linked to the date of first disbursement. As, our Bank has decided for the present to have the reset periodicity for all loans sanctioned and credit limits renewed as 1 year, please protect the same. However Credit approval Committees from CAC and above have been empowered to allow interest rate resetting period of below one year on case to case basis. The Marginal Cost of Funds based Lending Rate (MCLR) prevailing on the date of first disbursement will be applicable till the next reset date, irrespective of the changes in the benchmark during the interim period. 5. Concession in Applicable ROI: In case of approved concessional Rate of Interest linked to base rate, branches may continue to charge the RO! linked to base rate as per sanctioned terms uptill review/renew of accounts. In case of concessions in new accounts or renewed accounts on or after 01.04.2016, branches to seek approval for any concession from competent authority as per extant guidelines on delegation for concession, while linking the applicable ROI to benchmark MCLR. Please refer to Branch Circular No 110/187 dt 29.12.2016 for revised delegation for granting concession in ROI. 6. Allother terms remains unchanged as per HO BC 110/19 dt 01.04.2016, HO BC 110/37 dated 06.05.2016 and HO BC 110/147 dt 07.11.2016. (s.c/Mopl GENERAL MANAGER \Wranch Circulars 2016-17IMCLR\Draft Cicular HO BC 110— Revised MCLR w.e {07.12.2016 docx Poge 2 of 2