RRBs - CRR Increased - RBI - Reserve Bank of India
RRBs - CRR Increased
RBI/2006-2007/260
RPCD.CO.RRB.BC 50/03.05.28(B)/2006-07
February 14, 2007
All Regional Rural Banks
Dear Sir,
Section 42 (1) of Reserve Bank of India Act, 1934 –
Maintenance of CRR-Regional Rural Banks (RRBs)
Please refer to our circular RPCD.CO.RF.BC.38/07.02.01/2006-2007 (RBI/2006-07/202) dated December 11, 2006 on the above 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 all Regional Rural Banks by one-half of one percentage point of their net Demand and Time Liabilities (NDTL) in two stages, effective from fortnights as indicated below:
|
Effective date |
CRR on net demand |
|
February 17, 2007 |
5.75 |
|
March 3, 2007 |
6.00 |
A copy the relative notification RPCD
RRB.CO No7523 / 03.05.28(B)/2006-07 dated February 14, 2007 is enclosed.
Please acknowledge receipt to our Regional Office concerned.
Yours faithfully,
(Surekha Marandi)
General Manager
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