Chronology Of Events

Bank Rate Cash Reserve Ratio* Statutory Liquidity Ratio**
Rate Effective Date Rate Effective Date Rate Effective Date
1 2 1 2 1 2
3.5 5/7/1935 (a)5% of DL 5/7/1935 20 16-03-1949
(b)2% of TL
3 28-11-1935 (a)5% of DL 6/3/1960    
(b)2% of TL @ 25 16-09-1964
    (a)5% of DL 6/5/1960    
(b)2% of TL @
3.5 15-11-1951 (a)5% of DL 11/11/1960 26 5/2/1970
(b)2% of TL 27 24-04-1970
    3 16-09-1962 28 28-08-1970
5 29-06-1973
4 16-05-1957 6 8/9/1973    
7 22-09-1973 29 4/8/1972
    5 1/7/1974 30 17-11-1972
4.5 14-12-1974
4.5 3/1/1963 4 28-12-1974    
5 4/9/1976 32 8/12/1973
    6 13-11-1976    
6 @ 14-01-1977
5 26-09-1964 6 @ 1/7/1978 33 1/7/1974
6 @ 5/6/1979
    6.5 31-07-1981    
7 21-08-1981 34 1/12/1978
6 17-02-1965 7.25 27-11-1981    
7.5 25-12-1981
    7.75 29-01-1982 34.5 25-09-1981
7.25 9/4/1982 35 30-10-1981
5 2/3/1968 7 @ 11/6/1982    
7.5 @ 27-05-1983 35.5 28-07-1984
    8 @ 29-07-1983 36 1/9/1984
8.5 @ 27-08-1983
6 9/1/1971 8.5 @ 12/11/1983    
9 @ 4/2/1984 36.5 8/6/1985
    9 @ 27-10-1984 37 6/7/1985
9 @ 1/12/1984
7 31-05-1973 9 @ 26-10-1985    
9 @ 22-11-1986
    9.5 @ 28-02-1987 37.5 25-04-1987
9.5 @ 23-05-1987
9 23-07-1974 10 @ 24-10-1987    
10 @ 23-04-1988 38 2/1/1988
    10.5 @ 2/7/1988    
11 @ 30-07-1988
10 12/7/1981 15 @ 1/7/1989    
15 @ 4/5/1991 38.5 22-09-1990
    15 @ 11/1/1992    
15 @ (21-04-1992)
11 4/7/1991 15 @ 8/10/1992 38.5 + # (29-02-1992)
14.5 17-04-1993
12 9/10/1991 14 15-05-1993    
14.5 11/6/1994 38.25 + 9/1/1993
    14.75 9/7/1994 38 + 6/2/1993
15 6/8/1994 37.75 + 6/3/1993
11 16-04-1997 14.5 11/11/1995 37.5 + 21-08-1993
14 9/12/1995 37.25 + 18-09-1993
10 26-06-1997 13.5 27-04-1996 34.75 ^ $ 16-10-1993
13 11/5/1996
9 22-10-1997 12 6/7/1996    
11.5 26-10-1996 34.25 ^ 20-08-1994
    11 9/11/1996 33.75 ^ 17-09-1994
10.5 4/1/1997 31.5 ! & 29-10-1994
11 17-01-1998 10 18-01-1997    
9.75 25-10-1997
10.5 19-03-1998 9.5 22-11-1997 25 25-10-1997
10 6/12/1997
10 3/4/1998 10.5 17-01-1998    
10.25 28-03-1998
9 29-04-1998 10 11/4/1998
11 29-08-1998
    10.5 13-03-1999    
10 8/5/1999
8 2/3/1999 9.5 @@ 6/11/1999    
9 20-11-1999
7 2/4/2000 8.5 8/4/2000    
8 22-04-2000
8 22-07-2000 8.25 29-07-2000    
8.5 12/8/2000
7.5 17-02-2001 8.25 24-02-2001    
8 10/3/2001
7 2/3/2001 7.5 19-05-2001    
6.5 23-10-2001 5.75 3/11/2001
6.25 30.10.2002 5.5 29-12-2001    
5 01.06.2002
4.75 16.11.2002

Chronology of Bankrate, CRR and SLR Changes

  • DL : Demand Liabilities
  • TL : Time Liabilities
  • Date in brackets refer to announcement dates.
  • *: The data for CRR are as percentage of domestic Net Demand and time liabilities ( NDTL ) which pertain only to domestic deposits.
  • @ : Accompanied with additional reserve requirements of CRR on incremental NDTL.
  • **: Till March 29, 1985 the banks were required to maintain statutory liquidity ratio as a prescribed proportion of gross DTL as on every Friday in the following week on daily basis. Thereafter, it is maintained daily on a fortnightly basis as a prescribed portion of net DTL as on last Friday of second preceding fortnight. The data pertains only to domestic deposits.
  • + : SLR on net DTL as on April 3, 1992.
  • # : In addition there was 30% SLR on the increase in net DTL over April 3, 1992 level.
  • ^ : SLR on net DTL as on September 17, 1993.
  • $ : In addition there was 25% SLR on the increase in net DTL over September 17, 1993 level.
  • ! : SLR on net DTL as on September 30,1994.
  • & : In addition there was 25% SLR on the increase in net DTL over September 30, 1994 level.
  • @@ : In order to improve the cash management by the banks, effective from the fortnight CRR will be maintained by every Scheduled Commercial Bank based on its NDTL as on the last Friday of the second preceding fortnight. Further to facilitate banks to tide over the contingency during the millennium change, it has been decide to treat cash in hand maintained by banks for compliance of CRR for a limited period of two months commencing from December 1,1999 to January 31, 2000. The cash in hand which will be counted for CRR purpose, during the above period cannot be treated as eligible asset for SLR purpose simultaneously.
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