80

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 4-08-1972
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
(Continued)
 81

TABLE 43 : MAJOR MONETARY POLICY MEASURES - BANK RATE, CRR & SLR (Concld.)
Bank Rate Cash Reserve Ratio* Statutory Liquidity Ratio**

Rate Effective date Rate Effective date Rate Effective date

1 2 3 4 5 6

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.