RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S2

Notification Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

55442544

Maintenance of CRR on Foreign Currency (Non-Resident) [FCNR (B)] Scheme

RBI/2011-12/628
DBOD. No. Ret.BC.113/12.01.001/2011-12

June 29, 2012

All Scheduled Commercial Banks
(Excluding Regional Rural Banks)

Dear Sir,

Section 42 of the RBI Act, 1934 – Maintenance of CRR on Foreign Currency (Non-Resident) [FCNR (B)] Scheme

Please refer to our circulars DBOD No. BC.39/12.01.001/95 dated April 05, 1995 and DBOD No. BC.50/12.01.001/2000-01 dated November 07, 2000 on the captioned subject, advising banks that in order to determine the rupee equivalent liability under FCNR (B) Scheme for the purpose of Cash Reserve Ratio (CRR), the FEDAI indicative rate for all the four major currencies (viz US dollar, GBP, Japanese Yen, and DM/Euro) on relevant reporting Friday which is available at 12.00 noon on any working day may be used.

2. In this connection, we advise that banks may be guided by the RBI Reference rate announced on the Reserve Bank’s web site at around 12:30 pm for the purpose of converting foreign assets/deposits for reporting in Form A Return (instead of indicative rates announced by FEDAI at 12 noon). The change may be brought into effect from the reporting fortnight ending July 13, 2012.

Yours faithfully,

Indrani Banerjee
(General Manager)

RbiTtsCommonUtility

PLAYING
LISTEN

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

Install the RBI mobile application and get quick access to the latest news!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

Was this page helpful?