In
terms of the powers conferred under section 36(1) of the State
Bank of Pakistan Act, 1956 it has been decided that effective
from May 19, 1999, every scheduled bank shall maintain with
State Bank a balance amount of which shall may at the close
of business n any day be less than 3.5 percent of its demand
and time liabilities in Pakistan.
2.
The above is in supersession of the existing instructions
on the subject, whereby the above ratio was prescribed at
5 percent.
3.
Other relevant instructions shall, however, remain unchanged.
Please acknowledge receipt.
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