SECTION 24 OF THE BANKING REGULATION ACT, 1949 – MAINTENANCE OF STATUTORY LIQUIDITY RATIO (SLR)
CIRCULAR DBR.RET.BC.70/12.02.001/2014-15, DATED 3-2-2015
Please refer to our circulars DBOD.Ret.BC.29/12.02.001/2014-15, dated August 05, 2014 and RPCD.RRB.BC.No.24/03.05.33/2014-15 dated August 06, 2014, on the above mentioned subject.
2. As announced in the Sixth Bi-Monthly Monetary Policy Statement 2014-15 by Reserve Bank of India on February 03, 2015, it has been decided to reduce the Statutory Liquidity Ratio (SLR) of Scheduled Commercial Banks, Local Area Banks and Regional Rural Banks from 22.0 per cent of the Net Demand and Time Liabilities (NDTL) to 21.5 per cent with effect from the fortnight beginning February 07, 2015.
3. A copy of the relative notification DBR.No.Ret.BC.69/12.02.001/2014-15, dated February 03, 2015 is enclosed (Annex).
NOTIFICATION DBR.RET.BC.69/12.02.001/2014-15, DATED 3-2-2015
In exercise of the powers conferred by sub-section (2A) of Section 24 of the Banking Regulation Act, 1949 (10 of 1949) and, in partial modification of the Notifications DBOD.No.Ret.BC.28/12.02.001/2014-15, dated August 05, 2014 and RPCD.RRB. No.23/03.05.33/2014-15, dated August 06, 2014, the Reserve Bank hereby specifies that with effect from the fortnight beginning February 07, 2015, every Scheduled Commercial Bank and Local Area Bank shall maintain in India assets as detailed in notification DBOD No Ret BC 91/12.02.001/2010-11 dated May 09, 2011 and DBOD No. Ret BC. 94/12.02.001/2011-12 dated April 17, 2012, and every Regional Rural Bank shall maintain in India assets as detailed in notification RPCD.CO.No.RRB.No.35/03.05.28(B)/2009-10, dated October 29, 2009, the value of which shall not at the close of business on any day be less than 21.5 per cent of the total net demand and time liabilities in India as on the last Friday of the second preceding fortnight.