Table 43 : Major Monetary Policy Measures - Bank Rate, CRR & SLR

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Published on August 31, 2004

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Table 43 : Major Monetary Policy Measures - Bank Rate, CRR & SLR

Bank Rate		Cash Reserve Ratio *				Statutory Liquidity Ratio **
Rate	Effective date	Rate		Effective date		Rate		Effective date
1	2	3		4		5		6
3.5	05-07-1935	(a) 5% of DL		05-07-1935		20.00		16-03-1949
		(b) 2% of TL
3.0	28-11-1935	(a) 5% of DL		06-03-1960
		(b) 2% of TL	@			25.00		16-09-1964
		(a) 5% of DL		06-05-1960
		(b) 2% of TL	@
3.5	15-11-1951	(a) 5% of DL		11-11-1960		26.00		05-02-1970
		(b) 2% of TL				27.00		24-04-1970
		3.00		16-09-1962		28.00		28-08-1970
		5.00		29-06-1973
4.0	16-05-1957	6.00		08-09-1973
		7.00		22-09-1973		29.00		04-08-1972
		5.00		01-07-1974		30.00		17-11-1972
		4.50		14-12-1974
4.5	03-01-1963	4.00		28-12-1974
		5.00		04-09-1976		32.00		08-12-1973
		6.00		13-11-1976
		6.00	@	14-01-1977
5.0	26-09-1964	6.00	@	01-07-1978		33.00		01-07-1974
		6.00	@	05-06-1979
		6.50		31-07-1981
		7.00		21-08-1981		34.00		01-12-1978
6.0	17-02-1965	7.25		27-11-1981
		7.50		25-12-1981
		7.75		29-01-1982		34.50		25-09-1981
		7.25		09-04-1982		35.00		30-10-1981
5.0	02-03-1968	7.00		11-06-1982
		7.50		27-05-1983		35.50		28-07-1984
		8.00		29-07-1983		36.00		01-09-1984
		8.50		27-08-1983
6.0	09-01-1971	8.50	@	12-11-1983
		9.00	@	04-02-1984		36.50		08-06-1985
		9.00	@	27-10-1984		37.00		06-07-1985
		9.00	@	01-12-1984
7.0	31-05-1973	9.00	@	26-10-1985
		9.00	@	22-11-1986
		9.50	@	28-02-1987		37.50		25-04-1987
		9.50	@	23-05-1987
9.0	23-07-1974	10.00	@	24-10-1987
		10.00	@	23-04-1988		38.00		02-01-1988
		10.50	@	02-07-1988
		11.00	@	30-07-1988
10.0	12-07-1981	15.00	@	01-07-1989
		15.00	@	04-05-1991		38.50		22-09-1990
		15.00	@	11-01-1992
		15.00	@	(21-04-1992)	^
11.0	04-07-1991	15.00	@	08-10-1992		38.50	+ #	(29-02-1992)	^
		14.50		17-04-1993
12.0	09-10-1991	14.00		15-05-1993
		14.50		11-06-1994		38.25	+	09-01-1993
		14.75		09-07-1994		38.00	+	06-02-1993
		15.00		06-08-1994		37.75	+	06-03-1993
11.0	16-04-1997	14.50		11-11-1995		37.50	+	21-08-1993
		14.00		09-12-1995		37.25	+	18-09-1993
10.0	26-06-1997	13.50		27-04-1996		34.75	^^ $	16-10-1993
		13.00		11-05-1996
9.0	22-10-1997	12.00		06-07-1996
		11.50		26-10-1996		34.25	^^	20-08-1994
		11.00		09-11-1996		33.75	^^	17-09-1994
		10.50		04-01-1997		31.50	! &	29-10-1994
11.0	17-01-1998	10.00		18-01-1997
		9.75		25-10-1997
10.5	19-03-1998	9.50		22-11-1997		25.00		25-10-1997
		10.00		06-12-1997
10.0	03-04-1998	10.50		17-01-1998
		10.25		28-03-1998
9.0	29-04-1998	10.00		11-04-1998
		11.00		29-08-1998
		10.50		13-03-1999
		10.00		08-05-1999
8.0	02-03-1999	9.50	@@	06-11-1999
		9.00		20-11-1999
7.0	02-04-2000	8.50		08-04-2000
		8.00		22-04-2000
8.0	22-07-2000	8.25		29-07-2000
		8.50		12-08-2000
7.5	17-02-2001	8.25		24-02-2001
		8.00		10-03-2001
7.0	02-03-2001	7.50		19-05-2001
6.5	23-10-2001	5.75		03-11-2001
6.25	30.10.2002	5.50		29-12-2001
		5.00		01.06.2002
		4.75		16.11.2002
6.0	30.04.2003	4.50		14.06.2003
CRR Cash Reserve Ratio. SLR Statutory Liquidity Ratio. DL Demand Liabilities. TL Time Liabilities. * Data for CRR are as percentage of domestic net demand and time liabilities (NDTL) as per Section 42 of the RBI Act, 1934. ** Till March 29, 1985, banks were required to maintain SLR as a prescribed proportion of gross DTL as on every Friday in the following week on a 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. Data pertain only to domestic deposits. @ Excluding additional reserve requirements or release/exemption of CRR on incremental NDTL. ^ Refers to announcement dates. + SLR on NDTL as on April 3, 1992. # In addition, there was 30% SLR on the increase in NDTL over April 3, 1992 level. ^^ SLR on NDTL as on September 17, 1993. $ In addition, there was 25% SLR on the increase in NDTL over September 17, 1993 level. ! SLR on NDTL as on September 30, 1994. & In addition, there was 25% SLR on the increase in NDTL over September 30, 1994 level. @@ In order to improve cash management by 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 decided 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. Cash in hand, which will be counted for CRR purpose during the above period, cannot be treated as eligible asset for SLR purpose simultaneously.