**Summary:**
This circular, DOR.No.Ret.BC.51/12.01.001/2019-20 dated March 27, 2020, issued by the Reserve Bank of India (RBI), announces a reduction in the daily minimum Cash Reserve Ratio (CRR) maintenance requirement for all Scheduled Banks. Effective from the fortnight beginning March 28, 2020, the minimum daily maintenance of CRR is reduced from 90% to 80% of the required reserve. This dispensation is a one-time measure and is valid up to June 26, 2020. The circular references earlier guidance on the subject, specifically Circular DBR.No.Ret.BC.9/12.01.001/2015-16 dated April 05, 2016. For further information, Dr. S. K. Kar, Chief General Manager, Department of Regulation, Central Office, Reserve Bank of India, located at 5th floor, Amar Building, Sir P.M. Road, Fort, Mumbai – 400001, can be contacted at Tel No: 22661602/2260100 or Fax No.: 022-22705691. The announcement follows the Seventh Bimonthly Monetary Policy Statement, 2019-20, dated March 27, 2020.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Reserve Bank of India Act, 1934: An act of the Parliament of India that governs the Reserve Bank of India.
Cash Reserve Ratio: The percentage of a bank's total deposits that it is required to keep with the Reserve Bank of India.
Mumbai, Maharashtra: City in India where the Central Office of the Department of Regulation, Reserve Bank of India is located.
DBR.No.Ret.BC.91/12.01.001/2015-16: A circular issued by the Reserve Bank of India on April 05, 2016.
Seventh Bimonthly Monetary Policy Statement, 2019-20: A monetary policy statement issued by the Reserve Bank of India.
Dr. S K Kar: Chief General Manager at Reserve Bank of India , signatory of the notification.
भारतीय �रज़व र् बक�
______________________RESERVE BANK OF INDIA ______________________
www.rbi.org.in
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
___________________________________________________________________________________________________________________
िविनयमन िवभाग, क�द्रीय काया�लय, 5वी ं मंिजल, अमर भवन, सर पी एम रोड, फोट�, मुंबई 400001
टेलीफ़ोन /Tel No: 22661602/2260100 फै� / Fax No.: 022-22705691
Department of Regulation, Central Office, 5th floor, Amar Building, Sir P.M. Road, Fort, Mumbai – 400001.
िह �ी आसान है, इस का प्रयोग बढ ाइये