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