Wednesday, August 3, 2011

Back-dated effect: HDFC RPLR

In continuation with my previous post:
1st August 2011:  HDFC increased its RPLR by 0.5%
2nd August (morning): Still they kept telling people that they were going to do it this week
2nd August (evening):  They finally announced that they have really done it, with effect from 1st August i.e. back dated
3rd August: All newspapers published it.

I wonder how can a company increase its PLR with back-dated effect. Can anyone explain?

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