A rotary cutting tool that is composed of a tool shank with at least one chucking groove or chip flute and one exchangeable cutting insert. At the tip of the shank a recess for accommodating the cutting insert is provided. The tool shank, on its circumference, has a limb with a bearing surface that is inclined relative to the tool axis and that corresponds to a likewise inclined bearing surface on a wing of the cutting insert. The inclination of the bearing surfaces produces an axial force that retains the cutting insert on the tool shank. The abstract of the disclosure is submitted herewith as required by 37 C.F.R. §1.72(b). As stated in 37 C.F.R. §1.72(b): A brief abstract of the technical disclosure in the specification must commence on a separate sheet, preferably following the claims, under the heading “Abstract of the Disclosure.” The purpose of the abstract is to enable the Patent and Trademark Office and the public generally to determine quickly from a cursory inspection the nature and gist of the technical disclosure. The abstract shall not be used for interpreting the scope of the claims. Therefore, any statements made relating to the abstract are not intended to limit the claims in any manner and should not be interpreted as limiting the claims in any manner.