| Date: |
27-03-2003
|
| Notification No: |
RBI Notification No 87/2003
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| Issuing Authority: |
RBI
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| Type: |
Notification
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| File No: |
|
| Subject: |
Exemption to Scheduled Commercial Bank from Maintenance of Average Cash Reserve Ratio (CRR)
|
|
Exemption to Scheduled Commercial Bank from Maintenance of Average Cash
Reserve Ratio (CRR)
DBOD.
IBS. BC. 87 - 23.13.004 - dated 27th March
2003
In
exercise of powers conferred by sub-section (7) of Section 42 of the Reserve
Bank of India Act, 1934 (2 of 1934), Reserve Bank of India hereby exempts every
scheduled commercial bank from maintenance of average Cash Reserve Ratio (CRR)
prescribed under Section 42 of the Reserve Bank of India Act, 1934 on the demand
and time liabilities in respect of their Offshore Banking Units.
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