RRBs- CRR increased
RBI/ 2009-10/410
RPCD.CO.RRB. No. 73/ 03.05.28(B)/ 2009-10
April 21, 2010
All Regional Rural Banks
Dear Sir,
Section 42 (1) of Reserve Bank of India Act, 1934 –
Maintenance of Cash Reserve Ratio (CRR)-
Regional Rural Banks(RRBs)
Please refer to our circular RPCD.CO.RRB.BC.No.53/ 03.05.28 (B)/ 2009-2010 dated February 1, 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 Regional Rural Banks by 25 basis points from 5.75 per cent to 6.0 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 RPCD RRB.CO No. 72/ 03.05.28(B)/ 2009-10 dated April 21, 2010, is enclosed.
4. Please acknowledge receipt to our Regional Office concerned.
Yours faithfully,
(R.C.Sarangi)
Chief General Manager
Encl: One
RPCD.CO.RRB. No. 72/ 03.05.28(B)/ 2009-10
April 21, 2010
NOTIFICATION
In exercise of the powers conferred under sub-section (1) of Section 42 of the Reserve Bank of India Act, 1934 and in partial modification of the earlier notification RPCD.CO.RRB.No.52/ 03.05.28 (B)/ 2009-2010 dated February 1, 2010, the Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR) required to be maintained by every Regional Rural Bank shall be 6.0 per cent of its net demand and time liabilities from the fortnight beginning April 24, 2010.
(V.K.Sharma)
Executive Director
CAclubindia
Guest
Notification No : --Published in Community & General