image

Change in Daily Minimum Cash Reserve Maintenance Requirement

RBI/2013-14/281
DBOD.No.Ret.BC.55 /12.01.001/2013-14

September 20, 2013

To All Scheduled Commercial Banks
(Excluding Regional Rural Banks)

Dear Sir,

Section 42(1) of the Reserve Bank of India Act, 1934 – Change in Daily Minimum Cash Reserve Maintenance Requirement

Please refer to our Circular DBOD.No.Ret.BC.35/12.01.001/2013-14 dated July 23, 2013 on the captioned subject.

2.  As announced in the Press Release 2013-14/604 dated September 20, 2013, it has been decided to reduce the minimum daily maintenance of the Cash Reserve Ratio from 99 per cent of the requirement to 95 per cent effective from the fortnight beginning September 21, 2013.

Yours faithfully,

(Sudha Damodar)
Chief General Manager

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Leave a Reply

Your email address will not be published. Required fields are marked *

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

India’s Leading Compliance Software

India’s Leading Compliance Software

Get A Demo Today !

Recent Articles

Recent Legal updates

Recent Gst Updates