RBI/2012-13/150
DBOD.Ret.BC. 33 /12.02.001/2012-13
July 31, 2012
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Dear Sir,
Section 24 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR).
Please refer to our circular DBOD. No. Ret. BC. 67/12.02.001/2010-11 dated December 16, 2010 on the captioned subject.
2. As announced in the First Quarter Review of the Monetary Policy 2012-13 by Reserve Bank of India on July 31, 2012, it has been decided to reduce the Statutory Liquidity Ratio (SLR) for Scheduled Commercial Banks from 24 per cent of their Net Demand and Time Liabilities (NDTL) to 23 per cent with effect from the fortnight beginning August 11, 2012.
3. A copy of the relative notification DBOD. No. Ret. BC.32 /12.02.001/2012-13 dated July 31, 2012 is enclosed
4. Please acknowledge receipt.
Yours faithfully,
(Murli Radhakrishnan)
Chief General Manager
Encl: As above
Ref. DBOD. No. Ret. BC. 32 /12.02.001/2012-13
July 31, 2012
NOTIFICATION
In exercise of the powers conferred by sub-section (2A) of Section 24 of the Banking Regulation Act, 1949 (10 of 1949) and, in partial modification of the Notification DBOD.No.Ret. BC. 66/12.02.001/2010-11 dated December 16, 2010, the Reserve Bank hereby specifies that with effect from the fortnight beginning August 11, 2012, every Scheduled Commercial Bank shall maintain in India assets as detailed in notification DBOD No Ret BC 91/12.02.001/ 2010-11 dated May 09, 2011 and DBOD No. Ret BC. 94/12.02.001/2011-12 dated April 17, 2012, the value of which shall not at the close of business on any day be less than 23 per cent of the total net demand and time liabilities in India as on the last Friday of the second preceding fortnight.
(B. Mahapatra)
Executive Director
CAclubindia
