In parallel, the Bank has been vested with new powers, giving us explicit responsibility for promoting public understanding and awareness of financial products, and for conducting investigations. Credit unions with assets of more than Rs20 million have also come under our purview.
With respect to the complementary lending facility, which allows financial institutions to borrow short-term funds from the Bank at their request up to the amount of the collateral they pledged in advance, the Bank decided to keep the loan rate unchanged at 0.1 percent, its level prior to the termination of the quantitative easing policy.