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Section 42(1) of Reserve Bank of India Act, 1934- maintenance of CRR

UBD(PCB) No 2/12.03.000/2006-07

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 UBD.PCB.22/16.26.000/2006-07 dated December 11, 2006, the Reserve Bank of India, hereby, specifies that the average Cash Reserve Ratio (CRR) required to be maintained by scheduled primary (urban) co-operative banks shall, from effective dates mentioned below, be as indicated there against.

Effective date
(ie the fortnight beginning from)

CRR on net demand and
time liabilities (percent)

February 17, 2007

5.75

March 03, 2007

6.00


(V.S.Das)
Executive Director


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