Please refer to BSD Circulars Nos. 25 and 26 dated October 17, 2008  on the captioned subject.
2. It has been decided to reduce Cash Reserve Requirements by 1% as under with immediate effect instead of 15th November 2008 as earlier notified by above referred circulars:

i)- Weekly average of 5.0% (subject to daily minimum of 4.0%) of total Demand Liabilities (including Time Deposits with tenor of less than 1 year)

ii)- Time Liabilities (including Time Deposits with tenor of 1 year and above) will not require any Cash Reserve.

3. All other instructions on the subject shall, however, remain unchanged.

Please acknowledge receipt.