DBOD.No.BC.21/12.01.001/97-98
March 23, 1998
Chaitra 2, 1920 (Saka)
Notification
In exercise of the powers
conferred by Proviso to Sub-section (1) of Section 42 of the RBI Act, 1934 (2
of 1934) and in supersession of its Notification No. DBOD.BC. 4/12.01.001/97-98
dated January 16, 1998, the Reserve Bank of India hereby specifies that the
average Cash Reserve Ratio (CRR) required to be maintained by Scheduled
Commercial Banks (excluding Regional Rural Banks) shall, from effective dates
mentioned below, be at the percentage points as indicated thereagainst.
|
Effective Date (i.e. fortnight
beginning from ) |
Cash Reserve Ratio on net
demand and time liabilities (per cent) |
|
March 28,1998 |
10.25 |
|
April 11,1998 |
10.00 |
(S. Gurumurthy)
Executive Director