RBI/2006-2007/257
RPCD.CO.RF.BC 49 /07.02.01/2006-07

February 14, 2007

All Scheduled State Co-operative Banks

Dear Sir,

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

Please refer to our circular RPCD.CO.RF.BC.38/07.02.01/2006-2007 (RBI/2006-07/202) dated December 11, 2006 on the above subject. As set out in Press Release: 2006-07/1094 dated February 13, 2007, it has been decided to increase Cash Reserve Ratio (CRR) of all Scheduled State 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:

A copy the relative notification RPCD.RF.No. 7458 /07.02.01/2006-07 dated February 14, 2007 is enclosed.

Please acknowledge receipt to our Regional Office concerned.

Yours faithfully,