SCBs - CRR Increased - ربی - Reserve Bank of India
SCBs - CRR Increased
RBI/2006-2007/259
Ref: DBOD.No. Ret.BC. 58/12.01.001/2006-07
February 14, 2007
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 |
CRR on net demand and time |
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