RPCD.CO.RF.
BC 65 /07.02.01/2006-07 April
4, 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 RPCD.RF.BC.53/07.02.01/2006-07
dated March 2, 2007, the Reserve Bank of India hereby notifies that the average
Cash Reserve Ratio (CRR) required to be maintained by Scheduled State Co-operative
Banks shall, from effective dates mentioned below, be at the percentage points
as indicated below.
| Effective
date
(i.e. the fortnight
beginning from) | CRR
on net demand and
time liabilities (per cent) | |
April
14, 2007 | 6.25 |
| April
28, 2007 | 6.50 |
However, the effective CRR maintained by Scheduled State Co-operative Banks on
total demand and time liabilities shall not be less than 3.00 per cent, as stipulated
under the Act, ibid. (Anand
Sinha)
Executive
Director |