The Hindu Business Line : Bill to replace SLR Ordinance introduced

This Bill seeks to replace the Ordinance that was promulgated on January 23 to enable the Reserve Bank of India (RBI) to specify the statutory liquidity ratio (SLR) without any floor.

It was felt that the RBI, as the regulator and the authority vested with the powers to conduct monetary policy, should have the necessary flexibility regarding stipulation of holding of liquid instruments by banks.

The Ordinance facilitated the removal of the then existing SLR floor of 25 per cent, while leaving the ceiling of 40 per cent in tact.

More Stories on : RBI & Other Central Banks | Financial Policy

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
ECGC bags MoU award for 2005-06

Forex reserves up $1.5 b

IKF Finance opens branch at Khammam

Distribution pact

Bill to replace SLR Ordinance introduced

UTI Bank branch in Gudivada

Union Bank to open 3 ATMs

SBH launches 20 ATMs

SBT cuts home, education loan rates

`No bar under SICA to re-possess leased machinery if hirer defaulted'

Bank deposits on the rise

Allianz SE looking at retail banking segment

`Govt with RBI in curbing inflation'

All that glitters is sold