CRR increased
RBI/2009-10/407
Ref: DBOD.No.Ret.BC.90 /12.01.001/2009-10
April 20, 2010
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Dear Sir,
Section 42(1) of the Reserve Bank of India Act, 1934 - Maintenance of CRR
Please refer to our Circular DBOD. No. Ret. BC.71/12.01.001/ 2009-10 dated January 29, 2010 on the captioned subject.
2. On the basis of the current assessment and in line with the policy stance, as set out in the Reserve Bank's Monetary Policy Statement 2010-11 issued on April 20, 2010, it has been decided to increase the Cash Reserve Ratio (CRR) for Scheduled Commercial Banks by 25 basis points from 5.75 per cent to 6.00 per cent of their net demand and time liabilities (NDTL) with effect from the fortnight beginning April 24, 2010.
3. A copy of the relative notification DBOD. No. Ret. BC.89 /12.01.001/2009-10 dated April 20, 2010 is enclosed.
4. Please acknowledge receipt.
Yours faithfully
(P. K. Mahapatra)
General Manager
Encl:1
DBOD.No.Ret.BC. 89 /12.01.001/2009-2010
April 20, 2010
NOTIFICATION
In exercise of the powers conferred under the sub-section (1) of Section 42 of the Reserve Bank of India Act, 1934 and in partial modification of the earlier notification DBOD.No.Ret.BC.70/12.01.001/2009-10 dated January 29, 2010, the Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR) required to be maintained by every Scheduled Commercial Bank shall be 6.00 per cent of its net demand and time liabilities from the fortnight beginning April 24, 2010.
(Anand Sinha)
Executive Director
CAclubindia
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Notification No : --Published in Community & General