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

RPCD.RF.No. 7458/07.02.01/2006-07

February 14, 2007

NOTIFICATION

In exercise of the powers conferred under sub-section (1) of Section 42 of the Reserve Bank of India Act, 1934 and in supersession of its notification RPCD.RF.No.5541/07.02.01/2006-2007 dated December 11, 2006, the Reserve Bank of India hereby specifies that the average Cash Reserve Ratio (CRR) required to be maintained by Scheduled State Co-operative Banks shall, from effective dates mentioned below, be as indicated thereagainst.

Effective date
(i.e., the fortnight beginning from)

CRR on net demand
and time liabilities (per cent)

February 17, 2007

5.75

March 3, 2007

6.00


(V.S.Das)
Executive Director

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