Karachi June 14 2022: 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.
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.
Earlier, the banks falling short of their quarterly financing targets, as approved by the State Bank, will maintain, over & above the standard CRR, an additional CRR, in the next quarter, by the amount equivalent to two times of the shortfall in achieving financing target, as of relevant quarter end vis-à-vis that of corresponding quarterly target approved by the State Bank.
