RBI/2013-14/622
DBOD.Ret.BC.117/12.02.001/2013-14
June 03, 2014
All Scheduled Commercial Banks
and Local Area 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 circulars DBOD.Ret.BC.33/12.02.001/2012-13 dated July 31, 2012 and DBOD.Ret.BC.48/12.02.001/2012-13 dated September 28, 2012 on the captioned subject.
2. As announced in the Second Bi-Monthly Monetary Policy Statement 2014-15 by Reserve Bank of India on June 03, 2014, it has been decided to reduce the Statutory Liquidity Ratio (SLR) of Scheduled Commercial Banks and Local Area Banks from 23.0 per cent of the Net Demand and Time Liabilities (NDTL) to 22.5 per cent with effect from the fortnight beginning June 14, 2014.
3. A copy of the relative notification DBOD.No.Ret.BC.118/12.02.001/2013-14 dated June 03, 2014 is enclosed.
4. Please acknowledge receipt.
Yours faithfully,
(Sudha Damodar)
Chief General Manager
Encl: As above
Ref. DBOD. No. Ret. BC.118/12.02.001/2013-14
June 03, 2014
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. 32/12.02.001/2012-13 dated July 31, 2012 and DBOD.No. Ret. BC.47/12.02.001/2012-13 dated September 28, 2012, the Reserve Bank hereby specifies that with effect from the fortnight beginning June 14, 2014, every Scheduled Commercial Bank and Local Area Bank shall maintain in India assets as detailed innotification 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 22.5 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
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Notification No : RBI/2013-14/622Published in Community & General