What is the current SLR?
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Answer Posted / shinoj.k.s.
Ans:- SLR - 25% (w.e.f. 07/11/2009) Increased from 24%
which was continuing since. 08/11/2008
These include:
1.Interest rate increases.
2.Changes in the prudential regulation of banks’
investments in G-Sec.Most G-Sec held by banks are long-term
fixed-rate bonds, which are sensitive to changes in
interest rates. Increasing interest rates have eroded
banks’ income from trading in G-Sec.
Recently a huge demand in G-Sec was seen by almost all the
banks when RBI released around 108000 crore rupees in the
financial system. This was by reducing CRR, SLR & Repo
rates. This was to increase lending by the banks to the
corporates and resolve liquidity crisis. Providing economy
with the much needed fuel of liquidity to maintain the pace
of growth rate. However the exercise became futile with
banks being over cautious of lending in highly shaky market
conditions. Banks invested almost 70% of this money to
rather safe Govt securities than lending it to corporates.
Value and Formula
The quantum is specified as some percentage of the total
demand and time liabilities ( i.e. the liabilities of the
bank which are payable on demand anytime, and those
liabilities which are accruing in one months time due to
maturity) of a bank.
SLR Rate = Total Demand/Time Liabilities x 100%
This percentage is fixed by the Reserve Bank of India. The
maximum and minimum limits for the SLR are 40% and 25%
respectively.[1] Following the amendment of the Banking
regulation Act(1949) in January 2007, the floor rate of 25%
for SLR was removed. Presently, the SLR is 25% with effect
from 7 November, 2009. It was raised from 24% in the RBI
policy review on 27 October, 2009.
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