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RBI/2008-2009/263dated 03.11.2008



RRBs – SLR reduced

RBI/2008-09/263
RPCD.CO.RRB.BC. No.58 /03.05.28 (B)/2008-09

November 3, 2008

All Regional Rural Banks

Dear Sir,

Section 24 of the Banking Regulation Act, 1949
Maintenance of Statutory Liquidity Ratio (SLR) – RRBs

Please refer to our circular RPCD.CO.RRB.No.BC.47/03.05.28 (B)/2007-08(RBI/2007-08/237) dated February 14, 2008 on the captioned subject.

2. On a review of current and evolving macroeconomic situation and liquidity conditions in the global and domestic financial markets, and as set out in the RBI Press Release 2008-2009/603 dated November 01, 2008, it has been decided that Statutory Liquidity Ratio (SLR) for Regional Rural Banks be reduced from 25 per cent to 24 per cent of their net demand and time liabilities (NDTL) with effect from the fortnight beginning November 8, 2008.

3. A copy of the relative notification RPCD RRB.CO No.4881/ 03.05.28(B) / 2008 -09 dated November 3, 2008 is enclosed.

4. Please acknowledge receipt to our Regional Office concerned.

Yours faithfully 

(B.P. Vijayendra)
Chief General Manager


RPCD.CO.RRB. No.4881/ 03.05.28(B)/2008-09

November 3, 2008

NOTIFICATION

In exercise of the powers conferred by sub-section (2A) of Section 24 of Banking Regulation Act, 1949 (10 of 1949) as amended from time to time and, in partial modification of Notification RPCD.CO.RRB. No.8483 / 03.05.28(B)/2007-08 dated February 14, 2008, the Reserve Bank of India hereby specifies that with effect from the fortnight beginning November 8, 2008, every Regional Rural Bank shall maintain in India assets as detailed in the Notification RPCD.CO.RRB.No. 8483 / 03.05.28 (B) / 2007-08 dated  February 14, 2008, the value of which shall not at the close of business of any day be less than 24 per cent of the total net demand and time liabilities in India as on the last Friday of the second preceding fortnight.

(V.S.Das)
Executive Director

 

CA. Shikha
on 05 November 2008
Published in Others
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