RBI reduces CRR reduced from 5.50 % to 4.75 %

UBD.BPD. (SCB). Cir.No.3/12.03.000/ 2011-12

March 9, 2012

The Chief Executive Officers of
All Scheduled Primary (Urban) Co-operative Banks

Madam / Dear Sir,

Section 42(1) of the Reserve Bank of India Act, 1934 – Maintenance of CRR

Please refer to our Circular UBD (PCB).CIR.No.2/12.03.000/2011-12 dated January 25, 2012 on the captioned subject.

2.  On review of the current and evolving liquidity conditions as set out in the Reserve Bank’s Press Release 2011-2012/1441 dated March 9, 2012, it has been decided to reduce the Cash Reserve Ratio (CRR) of Scheduled Primary (Urban) Co-operative Banks by 75 basis points from 5.50 per cent to 4.75 per cent of their Net Demand and Time Liabilities (NDTL) with effect from the fortnight beginning March 10, 2012.

3.  A copy of the relative notification UBD.BPD. (SCB).DIR.No.7/12.03.000/ 2011-12 dated March 09, 2012 is enclosed.

4.   Please acknowledge receipt.

Yours faithfully,

(L.M. Kamble)
General Manager-in-Charge
Encl: 1

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates