Banks must Maintain an Extra Daily Average Balance with the RBI in Addition to the Required Daily Balance | RBI
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- Last Updated on 9 October, 2023
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Notification No. DOR.RET.REC.35/12.01.001/2023-24., Dated: 08.09.2023
RBI mandates banks to maintain an additional average daily balance. It will be over and above the average daily balance required to be maintained u/s 42(1). Further, during the fortnight from Sept 09-22, 2023, a minimum of an additional average daily balance of 7.5% of the increase in net demand and time liabilities between May 19, 2023, and July 28, 2023, is to be maintained. During the period from Sep 23, 2023 -Oct 06, 2023 an additional average daily balance of 5% is to be maintained.
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