RBI/2008-09/308
RPCD.PLFS.No. BC. 73 /05.04.02/2008-09
December 5, 2008
The Chairmen/Chief Executives of
all Scheduled Banks / NABARD
Dear Sirs,
Temporary liquidity support for financing agricultural operations
Please refer to our circulars RPCD.PLFS.No.BC.45 /05.04.02/2008-09 dated October 15, 2008, and RPCD.PLFS. No. BC. 60 /05.04.02/2008-09 dated November 3, 2008, on the captioned subject.
2. Reserve Bank has since modified the facility of temporary liquidity support for financing agricultural operations, as mentioned therein as under:
a) The limits of the liquidity support availed by scheduled banks under Section 17 (3-B) of RBI Act 1934 and by NABARD under Section 17 (4-E) of RBI Act 1934 has been revised to Rs. 7500 crore and Rs. 2500 crore respectively with effect from December 6, 2008.
b) The facility has been extended for a period up to December 15, 2008.
3. All other conditions of the above circulars remain unchanged.
Yours faithfully,
(G. Srinivasan)
Chief General Manager – in - Charge |