UCBs - Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR) - ആർബിഐ - Reserve Bank of India
UCBs - Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR)
RBI/2009-2010/302 February 01, 2010 The Chief Executive Officers of Dear Sir, UCBs - Section 42(1) of Reserve Bank of India Act, 1934- Please refer to our Circular UBD (PCB) Cir. No.9/ 12.03.000/ 2008-09 dated January 05, 2009 on the captioned subject. 2. On the basis of the current macroeconomic assessment, as set out in the Third Quarter Review of the Monetary Policy 2009-10 issued on January 29, 2010, ithas been decided to increase the Cash Reserve Ratio (CRR) for Scheduled Primary (Urban) Co-operative Banks by 75 basis points from 5.00 per cent to 5.75 per cent of their net demand and time liabilities (NDTL), in two stages, effective from the fortnights as indicated below.
3. A copy of the relative notification UBD (PCB) No/1/12.03.000/2009-10 dated February 01, 2010 is enclosed. 4. Please acknowledge receipt. Yours faithfully, Encl. 1 UBD(PCB)No/1/12.03.000/2009-10 February 01, 2010 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(PCB)No./12/12.03.000/2008-09 dated January 05, 2009, 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, from effective dates mentioned below, be at the percentage points indicated thereagainst.
(V.K.Sharma) |