Section 36: Minimum reserves

2[36. Minimum reserves.—(1) The Bank may require banks or financial institutions to hold minimum reserves on deposit accounts with the Bank in pursuance of its monetary policy objectives. (2) The Bank may require the banks and financial institutions to hold special reserves on deposit accounts with the Bank in pursuance of its monetary policy or risk management of banking or financial sector and may provide for any remuneration or return on such special reserves. (3) The Bank shall, by regulations, establish the method for calculating the minimum reserves required to be maintained under sub-section (2).]

Effective date: 1956-04-18

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