MUMBAI: In a bid to ease liquidity pressure on the banking system due to a spurt in festival season demand, the Reserve Bank on Tuesday announced special measures to increase money supply in the financial system.
"Scheduled commercial banks may avail of additional liquidity support under the LAF to the extent of up to 1% of their net demand and time liabilities (NDTL) as on the reporting Friday of the second preceding fortnight," RBI said in a statement.
"For any shortfall in maintenance of statutory liquidity ratio (SLR) during November 9 to December 16, 2010, arising out of availment of this facility, banks may seek waiver of penal interest purely as an ad hoc, temporary measure," the central bank said.
"Scheduled commercial banks may avail of additional liquidity support under the LAF to the extent of up to 1% of their net demand and time liabilities (NDTL) as on the reporting Friday of the second preceding fortnight," RBI said in a statement.
"For any shortfall in maintenance of statutory liquidity ratio (SLR) during November 9 to December 16, 2010, arising out of availment of this facility, banks may seek waiver of penal interest purely as an ad hoc, temporary measure," the central bank said.
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