DBOD.No. Dir.BC. 85/12.01.001/98-99
August 20, 1998
Shravana 29, 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.
21/12.01.001/97-98 dated March 23, 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 be 11.00 per
cent with effect from the fortnight beginning August 29, 1998.
(S. Gurumurthy)
Executive Director