Balances held by State and Central Co-operative Banks with IDBI Bank Limited - Treatment for CRR / SLR Purpose - RBI - Reserve Bank of India
Balances held by State and Central Co-operative Banks with IDBI Bank Limited - Treatment for CRR / SLR Purpose
RBI/2010-11/302 December 7, 2010 The Chief Executive Officers, Dear Sir, Balances held by State and Central Co-operative Banks with IDBI Bank It has been decided that State and Central Co-operative Banks are exempted till further order from the obligation of maintenance of cash reserve ratio (CRR) under section 18 or assets in the form of cash, gold or unencumbered approved securities under section 24 read with section 56 of the Banking Regulation Act, 1949, to the extent of the amounts deposited by them with IDBI Bank Limited, in current account. 2. A copy of the notification RPCD.CO.RCB.No.26/07.02.01/2010-11 dated October 22, 2010 published in Part III Section 4 of the Gazette of India (Extraordinary) dated November 6, 2010 is enclosed. 3. Please acknowledge receipt to the Regional Office concerned. Yours faithfully, The Gazette of India RESERVE BANK OF INDIA Mumbai, the 22nd October, 2010 F.No.RPCD.CO.RCB.No.26/07.02.01/2010-11 Whereas Reserve Bank is satisfied that in public interest, in the interest of depositors and in the interest of the banking policy, it is necessary so to do, in exercise of powers conferred by Section 24A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank hereby notifies that State Co-operative Banks and Central Co-operative Banks, are exempted, till further order, from the obligation of maintenance of cash reserve ratio (CRR) under Section 18 or assets in the form of cash gold or unencumbered approved securities under Section 24 read with section 56 of the Banking Regulation Act, 1949, to the extent of the amounts deposited by them with IDBI Bank Limited, in current account. (V.K.Sharma) [ADVT.III/4/38/10/Exty.] |
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