REF: No. MPD. BC.244/07.01.279/ 2003-04 November 5, 2003Kartika 14, 1925(S)To All Primary DealersDear Sirs,Primary Dealers' Access to Call/Notice Money MarketPlease refer to Paragraphs 62 and 63 of the Governor’s statement on Mid-term Review of Monetary and Credit Policy for the year 2003-04 enclosed with his letter No. MPD. BC.241/07.01.279/2003-04 dated November 3, 2003 (copy of the paragraphs enclosed). 2. It may be recalled that following the annual policy Stateme

RBI/2023-24/52
DOR.RET.REC.29/12.01.001/2023-24

August 10, 2023

The Chairperson / CEOs of all Scheduled Commercial Banks / Regional Rural Banks /
All Scheduled Primary (Urban) Co-operative Banks / All Scheduled State Co-operative Banks

Madam / Dear Sir,

Reserve Bank of India Act, 1934 - Section 42(1A) - Requirement for maintaining additional CRR

Under Section 42(1) of the Reserve Bank of India Act, 1934, all Scheduled Banks are required to maintain with Reserve Bank of India a Cash Reserve Ratio (CRR) of 4.50 per cent of Net Demand and Time Liabilities (NDTL).

2. On a review of the current liquidity conditions, it has been decided to issue a directive under Section 42(1A) of the Reserve Bank of India Act, 1934 requiring all Scheduled Commercial Banks / Regional Rural Banks / all Scheduled Primary (Urban) Co-operative Banks / all Scheduled State Co-operative Banks to maintain with the Reserve Bank of India, effective from the fortnight beginning August 12, 2023, an incremental CRR (I-CRR) of 10 per cent on the increase in NDTL between May 19, 2023 and July 28, 2023. The I-CRR will be reviewed on September 8, 2023 or earlier.

3. A copy of the relative notification DOR.RET.REC.30/12.01.001/2023-24 dated August 10, 2023 is enclosed.

Yours faithfully,

(Brij Raj)
Chief General Manager

DOR.RET.REC.30/12.01.001/2023-24

August 10, 2023

NOTIFICATION

In exercise of the powers conferred by sub-section (1A) of Section 42 of the Reserve Bank of India Act, 1934, the Reserve Bank of India hereby directs that all Scheduled Commercial Banks / Regional Rural Banks / all Scheduled Primary (Urban) Co-operative Banks / all Scheduled State Co-operative Banks, shall maintain with the Reserve Bank of India, with effect from the fortnight beginning August 12, 2023:

an additional average daily balance over and above the average daily balance required to be maintained under sub-section (1) of Section 42; and

that the amount of such additional average daily balance shall not be less than 10 per cent of the increase in net demand and time liabilities between May 19, 2023 and July 28, 2023.

(Jayant Kumar Dash)
Executive Director

RBI/2023-24/49
DoR.RET.REC.25/12.07.160/2023-24

July 18, 2023

All Banks

Madam / Dear Sir,

Inclusion of “NongHyup Bank” in the Second Schedule of the Reserve Bank of India Act, 1934

It is advised that “NongHyup Bank” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DoR.LIC.No.S1568/23.13.164/2023-24 dated June 20, 2023 and published in the Gazette of India (Part III - Section 4) dated July 15 - July 21, 2023.

Yours faithfully,

(Brij Raj)
Chief General Manager