| Date: |
14-02-2007
|
| Notification No: |
RBI/2006 2007/259, Ref DBOD No Ret BC 58/12 01 001/2006 07
|
| Issuing Authority: |
RBI
|
| Type: |
Notification
|
| File No: |
RBI/2006-2007/259 |
| Subject: |
Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of CRR
|
|
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Dear Sir,
Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of CRR
Please refer to our Circular RBI/2006-2007/201/DBOD.No.Ret.BC.45/12.01.001/2006-07 dated December 11,2006 on the captioned subject. As set out in Press Release : 2006-07/1094 dated February 13, 2007, it has been decided to increase Cash Reserve Ratio (CRR) of Scheduled Commercial Banks by one-half of one percentage point of their Net Demand and Time Liabilities (NDTL) in two stages, effective from the fortnights as indicated below:
|
Effective date (i.e., the
fortnight beginning from) |
CRR on net demand and time
liabilities (per cent) |
|
February 17,2007 |
5.75 |
|
March 3, 2007 |
6.00 |
A copy of the relative notification DBOD. No. Ret. BC. 57/12.01.001/2006-2007 dated February 14, 2007 is enclosed.
Please acknowledge receipt.
Yours faithfully
(T.B.Satyanarayan)
General Manager
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