April 5, 2016
The Chairperson /CEOs of all Scheduled Commercial Banks/ Regional Rural Banks /All Scheduled Primary (Urban) Co-operative Banks / All Scheduled State Co-operative Banks
Dear Sir / Madam,
Section 42(1) of the Reserve Bank of India Act, 1934 - Change inDaily Minimum Cash Reserve Maintenance Requirement
Please refer to our Circular DBOD.No.Ret.BC.55/12.01.001/2013-14; UBD.BPD.(SCB).CIR No.2/12.03.000/2013-14 and RPCD.CO.RRB.RCB.No. 40/03.05.33/2013-14 all dated September 20, 2013 on the captioned subject.
2. As announced in the First Bi-Monthly Monetary Policy Statement 2016-17 dated April 5, 2016, it has been decided to reduce the minimum daily maintenance of the Cash Reserve Ratio from 95 per cent of the requirement to 90 per cent effective from the fortnight beginning April 16, 2016.
(S.S.Barik)Chief General Manager