Reserve Bank of India

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Yale University EliScholar – A Digital Platform for Scholarly Publishing at Yale YPFS Documents (Series 1) Browse by Media Type 10-7-2008 RRBs – CRR reduced, All Regional Rural Banks, RBI/2008-2009/205 Reserve Bank of India Follow this and additional works at: https://elischolar.library.yale.edu/ypfs-documents Recommended Citation Reserve Bank of India, "RRBs – CRR reduced, All Regional Rural Banks, RBI/2008-2009/205" (2008). YPFS Documents (Series 1). 12873. https://elischolar.library.yale.edu/ypfs-documents/12873 This Document is brought to you for free and open access by the Browse by Media Type at EliScholar – A Digital Platform for Scholarly Publishing at Yale. It has been accepted for inclusion in YPFS Documents (Series 1) by an authorized administrator of EliScholar – A Digital Platform for Scholarly Publishing at Yale. For more information, please contact elischolar@yale.edu. RBI/2008-09/205 RPCD.CO.RRB. No. BC.40/ 03.05.28(B)/2008-09  October 7, 2008  All Regional Rural Banks  Dear Sir,  Section 42 (1) of Reserve Bank of India Act, 1934 –  Maintenance of Cash Reserve Ratio (CRR)-  Regional Rural Banks(RRBs)  Please refer to our circular RPCD.CO.RRB.No.BC.16/03.05.28 (B)/2008-2009 (RBI/2008-09/108) dated July 31, 2008 on the captioned subject. On a review of the current liquidity situation in the context of global and domestic developments, and as set out in the RBI Press Release 2008-2009/447 of dated October 6, 2008, it has been decided to reduce the Cash Reserve Ratio (CRR) for Regional Rural Banks by 50 basis points from 9.00 per cent to 8.50 per cent of their net demand and time liabilities (NDTL) with effect from the fortnight beginning October 11, 2008. This measure is ad hoc, temporary in nature and will be reviewed on a continuous basis in the light of the evolving liquidity conditions.  2. A copy of the relative notification RPCD RRB.CO No.3968/ 03.05.28(B) / 2008 -09 dated October 7, 2008 is enclosed.  3. Please acknowledge receipt to our Regional Office concerned.   Yours faithfully,   (A.K.Pandey) General Manager                    RPCD.CO.RRB.No.3968/ 03.05.28(B)/2008-09                        October 7, 2008  NOTIFICATION In exercise of the powers conferred under the sub-section (1) of Section 42 of the Reserve Bank of India Act, 1934 and in partial modification of its notification RPCD.CO.RRB.No 1301 /03.05.28 (B) /2008-2009 dated July 31, 2008, the Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR) required to be maintained by every Regional Rural Bank shall be reduced by 50 basis points to 8.50 per cent of its net demand and time liabilities from the fortnight beginning from October 11, 2008.     (V.S.Das)  Executive Director             

RRBs –  CRR reduced, All Regional Rural Banks, RBI/2008-2009/213

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RRBs – CRR reduced, All Regional Rural Banks, RBI/2008-2009/213

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