Karthika 07,1921

In exercise of the powers conferred by the Proviso to Sub-section (1) of Section 42 of the Reserve Bank of India Act, 1934 (2 of 1934) and in supersession of its Notification No. DBOD.BC.30/12.01.001/98-99 dated April 20, 1999 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.

Karthika 07,1921

In exercise of the powers conferred by sub Section (7) read with sub-section (1A) of Section 42 of the Reserve Bank of India Act, 1934 (2 of 1934) and in supersession of its Notification DBOD No.BC.44/12.01.001/96-97 dated April 15, 1997, the Reserve Bank of India hereby withdraws the requirement by all Scheduled Commercial Banks to maintain an incremental CRR of 10 per cent on increase in liabilities under Foreign Currency Non Resident ( Banks ) Scheme over the level prevailing as on April 11, 1997 with effect from the fortnight beginning November 06, 1999.

DBOD. NO. BC. 112 /12.01.001/98-99

October 29, 1999
Kartik 7, Saka 1921

In exercise of the powers conferred by sub-section (7) of Section 42 of RBI Act. 1934 (2 of 1934) the Reserve Bank of India hereby exempts all Scheduled Commercial Banks requiring them to maintain cash balances with Reserve Bank of India under Section 42 (1) of Reserve Bank of India Act , 1934 to the extent of cash in hand with them for a period of two months commencing from December 1, 1999 to January 31, 2000 subject to the condition that such cash in hand counted for the purpose of Cash Reserve Ratio during the above period will not be eligible asset for the purpose of Statutory Liquidity Ratio under Section 24(2A) of the Banking Regulation Act, 1949.

Executive Director.