Circulars/Notifications - Domestic Market & Monetary Management Department  
 DMMD Circular Letter No. 04 of 2022 Jun 14, 2022

The Presidents/Chief Executives
All Banks

Dear Sir(s)/Madam(s),
Mandatory Targets for Housing and Construction Finance

       Please refer to DMMD Circular Letter No. 03 dated October 07, 2020 and DMMD Circular Letter No. 02 dated January 21, 2022.

2.      To facilitate the banks, State Bank has decided that the lower/additional Cash Reserve Requirement for banks that meet/do not meet quarterly targets will not be applicable on surplus/shortfall in targets of housing and construction finance for  the quarter ending September 30, 2022 and onwards till further instructions on the matter.

3.      Accordingly, banks will maintain lower/additional Cash Reserve Requirement in respect of surplus/shortfall in targets for the quarter ending June 30, 2022 in the next quarter as per defined procedure. This means banks will maintain CRR (without lower/additional requirement) from the first reserve maintenance period starting after October 21, 2022.

4.      All other instructions on the subject shall remain unchanged.


Yours sincerely,

(Dr. Mahmood ul Hasan Khan)

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