RBI/2009-10/232
UBD.PCB.Cir.No. 24 /09.18.201/2009-10

November 27, 2009

The Chief Executive Officer
Primary (Urban) Cooperative Banks

Dear Sir / Madam

Augmentation of capital funds by issue of Long Term Deposits

Please refer to our circular UBD.PCB.Cir.No.4/09.18.201/2008-09 dated July 15, 2008 prescribing guidelines for issue of Preference shares and Long term Deposits by Urban Cooperative Banks.  In this connection, it is advised that the Long Term Deposits referred to in the said guidelines should henceforth be titled as ‘Long Term (Subordinated) Deposits’.

Yours faithfully

(A.K. Khound)
Chief General Manager-in-Charge