From which date, banks were allowed free to fix base rates by RBI?

The move to allow banks to fix their own base rates was welcomed by the banking industry. It was seen as a way to improve competition and efficiency in the sector. However, some critics argued that the move could lead to higher interest rates for borrowers.

The RBI has said that it will continue to monitor the situation and take steps to ensure that the benefits of the move are passed on to borrowers.

Here is a brief explanation of each option:

• Option A: 1st April, 2011. This is the correct answer. The RBI allowed banks to fix their base rates on this date.
• Option B: 1st April, 2012. This is incorrect. The RBI allowed banks to fix their base rates on 1st April, 2011.
• Option C: 1st April, 2013. This is incorrect. The RBI allowed banks to fix their base rates on 1st April, 2011.
• Option D: None of these. This is incorrect. The RBI allowed banks to fix their base rates on 1st April, 2011.