SLR increased
RBI/2009-10/195
DBOD.Ret.BC. 51/12.02.001/2009-10
October 28, 2009
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Madam/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. 73/12.02.001/2008-09 dated November 03, 2008 on the captioned subject.
2. As announced in the Second Quarter Review of Monetary Policy 2009-10 released on October 27, 2009, it has been decided to increase the Statutory Liquidity Ratio (SLR) for Commercial Banks to 25 per cent of their net demand and time liabilities (NDTL) with effect from the fortnight beginning November 7, 2009.
3. A copy of the relative notification DBOD. No. Ret. BC. 50/12.01.001/2009-10 dated October 28, 2009 is enclosed.
4. Please acknowledge receipt.
Yours faithfully,
(Vinay Baijal)
Chief General Manager
Encl: As above
Ref. DBOD. No. Ret. BC. 50/ 12.02.001/2009-10
October 28, 2009
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 DBOD. Ret. BC. 72/12.02.001/2008-09 dated November 03, 2008, the Reserve Bank of India hereby specifies that with effect from the fortnight beginning November 7, 2009, every scheduled commercial bank shall maintain in India assets as detailed in the Notification DBOD. No. Ret. BC. 40/12.02.001/ 2009-10 dated September 08, 2009, the value of which shall not at the close of business of any day be less than 25 per cent of the total net demand and time liabilities in India as on the last Friday of the second preceding fortnight.
(Anand Sinha)
Executive Director
CAclubindia
