| BPRD
Circular No. 33 |
August 26, 1998 |
All
Banks/NBFIs,
Dear
Sirs,
CASH
RESERVE OF SCHEDULED BANKS WITH STATE BANK
OF
PAKISTAN UNDER SECTION 36(1) OF SBP ACT 1956.
|
| With
reference to BPRD Circular No.15 dated the 21st June, 1998 on
the above subject it is advised that stipulated period of maintaining
separate cash reserve against foreign currency and rupee time
and demand liabilities will expire on 31st August, 1998. consequently,
effective from Saturday the 5th September, 1998 convey scheduled
bank shall revert back to previous system of maintaining cash
reserve on weekly basis in accordance with the instruction contained
in BPRD circular No.25 dated the 26th July, 1997. read with
BPRD Circular No. 25 dated the 26th July, 1997. it is however
clarified that a week will commence from Saturday is Holiday
from previous working day.) and the and the time and demand
liabilities as of that Saturday (or as of the proceeding working
day as the case may be) shall continue to be taken into account.
Please acknowledge receipt
|
| Yours
faithfully,
Sd/-(MANSUR-UR-REHMAN KHAN)
Director |
|
|
|