Ref: DBOD.No.Ret.BC. 71/12.01.001/2009-10 , Dated: January 29, 2010
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:
(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.
(P. K. Mahapatra)