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

RBI/2019-20/192
DOR.No.Ret.BC.51/12.01.001/2019-20

March 27, 2020

All Scheduled Banks

Dear Sir/Madam

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

Please refer to our Circular DBR.No.Ret.BC.91/12.01.001/2015-16 dated April 05, 2016 on the captioned subject.

2. As announced in the Seventh Bi-monthly Monetary Policy Statement, 2019-20, March 27, 2020, it has been decided to reduce the minimum daily maintenance of the Cash Reserve Ratio from 90 per cent of the requirement to 80 per cent effective from the fortnight beginning March 28, 2020. This is a one-time dispensation available up to June 26, 2020.

Yours faithfully

(Dr. S K Kar)
Chief General Manager


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