Saturday, November 14, 2009

SPECIAL REFINANCE FACILITY WITHDRAWN

Special Refinance Facility (SRF) to banks withdrawn under Section 17(3B) of the Reserve
Bank of India Act, 1934. In terms of this facility all scheduled commercial banks (excluding RRBs)
are provided refinance from the Reserve Bank equivalent to up to 1.0 per cent of each bank’s
Net Demand and Time Liabilities (NDTL). As per Second Quarter Review of Monetary Policy
2009-10, Banks cannot avail fresh refinance from the Reserve Bank under this facility from now
on wards.

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