Please refer to BSD Circular No.17 dated 29th June, 2000 on
the captioned subject whereby banks were required to maintain
with State Bank of Pakistan a weekly average balance of 5% of
total Time & Demand Liabilities subject to daily minimum
of 4%.
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 October 7, 2000 every scheduled bank shall maintain with
State Bank an average balance of 7% of its total Time &
Demand Liabilities in Pakistan worked out on weekly basis
provided that the amount of the balance shall not at the close
of business on any day be less than 6% of the total Time &
Demand Liabilities in Pakistan.
Other
instructions issued vide BSD Circular No.17 dated 29th June,
2000 shall, however, remain unchanged.
Please
acknowledge receipt.
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