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RBI Notification to Urban Co-operative Banks on Maintenance of CRR

RBI/2012-13/403
UBD.BPD. (SCB). CIR. No. 3 /12.03.000/2012-13

January 30, 2013

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

Madam/Dear Sir,

Section 42(1) of Reserve Bank of India Act, 1934
Maintenance of Cash Reserve Ratio (CRR)

Please refer to our Circular UBD. BPD.(SCB).Cir.No.2/12.03.000/2012-13 dated October 30, 2012 on the captioned subject.

2. As set out in the Reserve Bank™s Press Release 2012-2013/1267 dated January 29, 2013, it has been decided to reduce the Cash Reserve Ratio (CRR) for Scheduled Primary (Urban) Co-operative Banks by 25 basis points from 4.25 per cent to 4.0 per cent of their net demand and time liabilities (NDTL), with effect from the fortnight beginning February 9, 2013.

3. A copy of the relative notification UBD.BPD.(SCB).No.4 /12.03.000/2012-13 dated January 30, 2013 is enclosed.

4. Please acknowledge the receipt to the Regional Office concerned.

Yours faithfully,

(A. Udgata)
Chief General Manager-in-Charge

Encl: 1


UBD.BPD.(SCB). No. 4 /12.03.000/2012-13

January 30, 2013

Notification

In exercise of the powers conferred under the sub-section (1) of Section 42 of the Reserve Bank of India Act, 1934, and in partial modification of the earlier notification UBD.BPD.(SCB).No.3/12.03.000/2012-13 dated October 30, 2012 the Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR) required to be maintained by every Scheduled Primary (Urban) Co-operative Bank shall be 4.0 per cent of its net demand and time liabilities, from the fortnight beginning February 9, 2013.

(S. Karuppasamy)
Executive Director


All related circulars and press releases are attached

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