UCBs - Increase in CRR - আরবিআই - Reserve Bank of India
UCBs - Increase in CRR
UBD (PCB) Cir. No. 22 / 16.26.000/ 2006-2007
December 11, 2006
The Chief Executive Officers of
All Scheduled Primary (Urban) Co-operative Banks
Dear Sir/Madam,
Section 42(1) of Reserve Bank of India Act, 1934- Maintenance of CRR
Please refer to our Circular UBD. PCB. Cir 59/16.26.000/2005-06 dated June 22, 2006 on the captioned subject. On review of current macroeconomic and monetary conditions, it has been decided to increase cash reserve ratio (CRR) of scheduled primary (urban) co-operative banks by one-half of one percentage point of their net Demand and Time liabilities (NDTL) in two stages, effective from fortnights as indicated below:
Effective date |
CRR on net demand |
December 23, 2006 |
5.25 |
January 06, 2007 |
5.50 |
A copy of the relative notification UBD (PCB) No. 22/16.26.000/2006-2007 dated December 11, 2006 is enclosed.
Please acknowledge receipt.
Yours faithfully
(A. K. Khound)
Chief General Manager