KARACHI: The State Bank of Pakistan on Friday reduced the Special Cash Reserve Requirement to 10 per cent from 15pc of total FE-25 deposits from April 20 on wards.

The reduction would free up around $300 million for banks.

All conventional banks and development finance institutions will be required to maintain cash reserves in US dollar equivalent of their total FE-25 deposits on a daily basis with SBP -- 5pc cash reserve account and 10pc special cash reserve account.

Published in Dawn, April 18th, 2020