(a) whether a cross-section of bankers have expressed concern on the interest rates
which are set to go up despite the RBI`s plan to keep the rates under leash;
(b) if so, the reasons for rising inflation rate and the Government borrowings;
(c) whether it is a fact that US Fed rate, Libor and Repo rate have also been
increasing during the last six months; and
(d) if so: the steps taken by the Government in this regard?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI V. DHANANJAYA KUMAR):
(a) The prime lending rate (PLR) of major bank groups during the current financial year
were as shown below:
(per cent)
Range of PLR June 2000 March 2000 Public Sector Banks 11.25-12.50 12.00-13.50 Private Sector Banks 10.25-15.50 10.25.-16.00 Foreign Banks 9.75-17.50 10.50-17.50
(Figures upto June 2,2000)
Date Fed Fund Rate Libor Repo Rate` Average (Weekly) Average January 2000 5.50 5.86 6.00 February2000 5.75 5.83 6.00 March 2000 6.00 6.13 6.00 April 2000 6.00 6.12 5.00 May 2000 6.50 6.62 5.00 June 2000 6.50 6.64 5.00