Timeline: Changes to SLR for banks since 1949

MUMBAI Tue Jan 29, 2013 12:32pm IST

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010. REUTERS/Mukesh Gupta/Files

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010.

Credit: Reuters/Mukesh Gupta/Files

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MUMBAI (Reuters) - The RBI reduced its policy interest rate by a widely expected 25 basis points on Tuesday, taking comfort from cooling inflation as it made the first cut in nine months to support an economy headed for its slowest growth in a decade.

The Reserve Bank of India cut its key repo rate to 7.75 percent, as forecast by a Reuters poll. Subsequently, the reverse repo rate fell to 6.75 percent.

(For main story -- RBI cuts repo rate, CRR by 25 basis points, click here)

The RBI unexpectedly also reduced the cash reserve ratio (CRR), the share of deposits banks must keep with the central bank, by 25 bps to 4.00 percent, which will infuse an additional 180 billion rupees into the banking system.

It left the minimum requirement for banks' government bond holdings at 23 percent of deposits.

Following is a timeline on changes in the statutory liquidity ratio (SLR) since 1949.

RATE (PCT) EFFECTIVE DATE

23.00 11-08-2012

24.00 18-12-2010

25.00 07-11-2009

24.00 08-11-2008

25.00 25-10-1997

31.50 29-10-1994

33.75 17-09-1994

34.25 20-08-1994

34.75 16-10-1993

37.25 18-09-1993

37.50 21-08-1993

37.75 06-03-1993

38.00 06-02-1993

38.25 09-01-1993

38.50 29-02-1992

38.50 22-09-1990

38.00 02-01-1988

37.50 25-04-1987

37.00 06-07-1985

36.50 08-06-1985

36.00 01-09-1984

35.50 28-07-1984

35.00 30-10-1981

34.50 25-09-1981

34.00 01-12-1978

33.00 01-07-1974

32.00 08-12-1973

30.00 17-11-1972

29.00 04-08-1972

28.00 28-08-1970

27.00 24-04-1970

26.00 05-02-1970

25.00 16-09-1964

20.00 16-03-1949

(Compiled by Shamik Paul; Editing by Anand Basu)

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