RBI/2009-10/296
Ref: DBOD.No.Ret.BC. 71/12.01.001/2009-10
January 29, 2010
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Dear Sir,
Section 42(1) of the Reserve Bank of India Act, 1934 - Maintenance of CRR
Please refer to our Circular DBOD. No. Ret. BC.103/12.01.001/ 2008-09 dated
January 02, 2009 on the captioned subject.
2. On the basis of the current macroeconomic assessment, as set out in the Third
Quarter Review of Monetary Policy 2009-10 issued on January 29, 2010, it has
been decided to increase the Cash Reserve Ratio (CRR) for Scheduled Commercial
Banks by 75 basis points from 5.00 per cent to 5.75 per cent of their net demand
and time liabilities (NDTL) in two stages, effective the fortnights as indicated
below:
Effective date(i.e.,
the fortnight beginning from) |
CRR on net demand and
time liabilities (per cent) |
| February 13, 2010 |
5.50 |
| February 27, 2010 |
5.75 |
3. A copy of the relative notification DBOD. No. Ret. BC.70/12.01.001/2009-10
dated January 29, 2010 is enclosed.
4. Please acknowledge receipt.
Yours faithfully
(P. K. Mahapatra)
General Manager
Encl:1
DBOD.No.Ret.BC. 70 /12.01.001/2009-2010
January 29, 2010
NOTIFICATION
In exercise of the powers conferred under the sub-section (1) of Section 42 of
the Reserve Bank of India Act, 1934 and in partial modification of the earlier
notification DBOD.No.Ret.BC102/12.01.001/2008-09 dated January 2, 2009, the
Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR)
required to be maintained by every Scheduled Commercial Bank shall, from
effective dates mentioned below, be at the percentage points indicated
thereagainst.
Effective date
(i.e., the fortnight beginning from) |
CRR on net demand and time liabilities
(per cent) |
| February 13, 2010 |
5.50 |
| February 27, 2010 |
5.75 |
(G. Gopalakrishna)
Executive Director