SRR to be reduced on all deposits at LCBs - Central Bank

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce  the Statutory Reserve Ratio (SRR) on all rupee deposit liabilities of Licensed Commercial Banks (LCBs).

Accordingly, the SRR applicable on all rupee deposit liabilities of LCBs will be reduced by 200 basis points, from 4.00 per cent to 2.00 per cent, CBSL reported. The relevant reduction will be effective from the reserve maintenance period, commencing on Wednesday (16 August).

The decision was taken at a meeting of the Monetary Board held yesterday (08 August).