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Date: 01/07/2010
Master Circular on Maintenance of Statutory Reserves- Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks

RBI/2010-11/94
UBD.PCB. MC.No.15 /12.03.000/2010-11

July 01, 2010

Chief Executive Officers of
All Primary (Urban) Co-operative Banks

Dear Sir,

Master Circular on Maintenance of Statutory Reserves-
Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)
by Primary (Urban) Co-operative Banks

Please refer to our Master Circular UBD. CO.BSD.NSB1/Ret/MC No.15/12.03.000/2009-10 dated July 01, 2009 on the captioned subject. The enclosed Master Circular consolidates and updates all the instructions/guidelines on the subject issued up to June 30, 2010.

Yours faithfully,

(Uma Shankar)
Chief General Manager

Encl: As above


Master Circular

Maintenance of Statutory Reserves

Cash Reserve Ratio (CRR) & Statutory Liquidity Ratio (SLR)

Contents

1

Introduction

2

General

3

Cash reserves for scheduled UCBs

4

Cash reserves for non-scheduled UCBs

5

Statutory Liquidity Reserves for scheduled and non-scheduled UCBs

6

Annex 1

7

Annex 2

8

Annex 3

9

Annex 4

10

Annex 5

11

Annex 6

12

Annex 7

13

Annex 8

14

Annex 9

15

Appendix

Master Circular

Maintenance of Statutory Reserves-
Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by
Primary (Urban) Co-operative Banks

1. Introduction

1.1 All primary (urban) co-operative banks (UCBs) (scheduled as well as non-scheduled) are required to maintain stipulated level of cash reserve ratio (CRR) and statutory liquidity ratio (SLR).

1.2 In regard to cash reserve, the provisions of section 42 (1) of the Reserve Bank of India Act, 1934 (RBI Act, 1934), governs scheduled UCBs whereas, non scheduled UCBs are governed by the provisions of section 18 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) [BR Act, 1949(AACS)]

1.3 The provisions of section 24 of the Act ibid govern maintenance of SLR for all banks (scheduled as well as non-scheduled).

1.4 The instructions on all these aspects which are operational as on date of this circular are detailed in the following paragraphs.

2. General

2.1 The various Forms/Returns are given in the Banking Regulation (Co-operative Societies) Rules, 1966.

2.2 In order to monitor the day-to-day position of liquidity of the bank, all UCBs are  required to maintain a register, as per format given in Annex 8, showing the daily  position of cash reserve and liquid assets maintained under sections 18 and 24 of the BR Act, 1949 (AACS).

2.3 The work of maintaining the register on daily basis may be entrusted to a responsible official and it should be put up daily to the chief executive officer, who is responsible for ensuring compliance with the statutory liquidity requirements at the close of business every day.

2.4 To facilitate compilation of figures under various heads of the register, the explanations in respect of each item which form part of the Rules, as footnotes to Form I are given in the Annex 9. However, it may be noted that Scheduled UCBs are required to compute CRR requirements as per Section 42 of RBI Act, 1934. 

3 Cash Reserves for Scheduled UCBs

3.1 Statutory CRR Requirements

Earlier, in terms of section 42(1) of the RBI Act, 1934, the scheduled UCBs were required to maintain with the Reserve Bank of India (Reserve Bank) during the fortnight, a minimum average daily balance of 3% of their total demand and time liabilities (DTL) in India obtaining on the last Friday of the second preceding fortnight. Further, Reserve Bank was empowered to increase, through Gazette notification, the said rate up to 15% of the DTL. The RBI Act, 1934 was amended by Parliament in June 2006 and the Reserve Bank of India (Amendment) Bill, 2006 came into force with effect from April 1, 2007. As per the amendment,  sub-section (1) of Section 42 of the RBI Act, 1934 was amended enabling the Reserve Bank, having regard to the needs of securing monetary stability in the country, to prescribe CRR for scheduled banks without any floor or ceiling rate.  Accordingly, with effect from April 1, 2007, Reserve Bank having regard to the needs of securing the monetary stability in the country, prescribes the CRR for Scheduled UCBs without any floor or ceiling rate.

3.2 Incremental CRR

In terms of section 42(1) A of the RBI Act 1934, the Scheduled UCBs are required to maintain, in addition to the balances prescribed under Section 42(1) of the Act, an additional average daily balance, the amount of which shall not be less than the rate specified by the Reserve Bank in the notification published in the Gazette of India from time to time. Such additional balance will be calculated with reference to the excess of the total of demand and time liabilities (DTL) of the bank as shown in the return referred to in Section 42(2) of the RBI Act, 1934 over the total of its DTL at the close of the business on the date specified in the notification.

Currently Reserve Bank has not prescribed any incremental CRR.

3.3 Multiple Prescriptions for CRR

For the purpose of maintenance of CRR and SLR the Reserve Bank may specify from time to time with reference to any transaction or class of transactions that such transaction or transactions shall be treated as liability in India of a scheduled UCB.

3.4 Maintenance of CRR

At present with effect from the fortnight beginning from April 24, 2010 the CRR prescribed by the Reserve Bank is 6.00 per cent of a bank's total of demand and time liabilities adjusted for the exemptions discussed in the following section 3.11. The schedule of changes brought about in the CRR prescription has been detailed in the table below:

Effective date
(from the fortnight beginning)

CRR on net demand and time liabilities (per cent)

January 6, 2007

5.50

February 17, 2007

5.75

March 3, 2007

6.00

April 14, 2007

6.25

April 28, 2007

6.50

August 04, 2007

7.00

November 10, 2007

7.50

April 26, 2008

7.75

May 10, 2008

8.00

May 24, 2008

8.25

July 05, 2008

8.50

July 19, 2008

8.75

August  30, 2008

9.00

October 11, 2008

6.50

October 25, 2008

6.00

November 08, 2008

5.50

January 17, 2009

5.00

February 13, 2010

5.50

February 27, 2010

5.75

April 24, 2010

6.00

3.5 Maintenance of CRR on a daily basis

In order to provide flexibility to banks and enable them to choose an optimum strategy of holding reserves depending upon their intra period cash flow, scheduled UCBs are presently required to maintain on average daily balance, a minimum of 70 per cent of the prescribed CRR balance based on their Net Demand and Time Liabilities (NDTL), as on the last Friday of the second preceding fortnight.

3.6 Calculation of CRR

In order to improve the cash management by banks, as a measure of simplification, a lag of two weeks has been introduced in the maintenance of stipulated CRR by the scheduled banks. Thus, with effect from the fortnight beginning from November 6, 1999, the prescribed CRR during a fortnight has to be maintained by every bank based on its NDTL as on the last Friday of the second preceding fortnight i.e. based on the NDTL as on reporting Friday, October 22, 1999 and so on.

3.7 Computation of NDTL for CRR

(i) Liabilities of a bank may be in the form of demand or time deposits or borrowings or other miscellaneous items of liabilities. As defined under Section 42 of RBI Act, 1934, liabilities of a bank may be towards banking system or towards others. ‘Demand Liabilities’ include all liabilities which are payable on demand. ‘Time Liabilities’ are those which are payable otherwise than on demand. Reserve Bank has been authorised in terms of Section 42 (1) (c) of RBI Act, 1934 to classify any particular liability and hence for any doubt regarding classification of a particular liability, banks are advised to approach Reserve Bank for necessary clarifications.

(ii) The computation of DTL, liabilities to the banking system, and assets with the banking system, NDTL etc. are explained in detail in Annex I.

3.8 Borrowings from Banks abroad

Loans/borrowings from abroad by banks in India will be considered as 'liabilities to others' and will be subject to reserve requirements. 

3.9 Arrangements with Correspondent Banks for remittance facilities

When a bank accepts funds from a client under its remittance facilities scheme, it becomes a liability (liability to others) in its books. The liability of the bank accepting funds will extinguish only when the correspondent bank honours the drafts issued by the accepting bank to its customers. As such, the balance amount in respect of the drafts issued by the accepting bank on its correspondent bank under the remittance facilities scheme and remaining unpaid should be reflected in the accepting bank's books as an outside liability under the head ' Liability to others in India' and the same should also be taken into account for computation of NDTL for CRR/SLR purpose.

The amount received by correspondent banks has to be shown as 'Liability to the Banking System' by them and not as 'Liability to others' and this liability could be netted off by the correspondent banks against the inter-bank assets. Likewise sums placed by banks issuing drafts/interest/dividend warrants are to be treated as 'Assets with Banking System' in their books and can be netted off from their inter-bank liabilities.            

3.10 Loans out of Foreign Currency Non-Resident (Banks) (FCNR [B]) Deposits and Inter-Bank Foreign Currency (IBFC) Deposits

Loans out of FCNR [B] Deposits Scheme and IBFC Deposits should be included as part of bank credit while reporting in Form ’A’. For the purpose of reporting banks should convert their FCNR (B) Deposits, Overseas foreign currency assets and bank credit in India in foreign currency in 4 major currencies into rupees at Foreign Exchange Dealers’ Association of India (FEDAI) noon mean rate on the reporting Friday.

3.11 Exempted categories

Scheduled UCBs are exempted from maintaining CRR on the following liabilities:

(i) The liabilities to the Banking System as computed under clause (d) of explanation to section 42(1) of the RBI Act, 1934

(ii) Credit balances in ACU (US$) accounts

(iii) UCBs are exempted, till further orders, from the obligation of maintenance of CRR under Section 18 of the BR Act, 1949 (AACS) or assets in the form of cash, gold or unencumbered approved securities under section 24 read with section 56 of the BR Act, 1949 (AACS) to the extent of the amounts deposited by them with IDBI Bank Ltd. in current account (vide circular UBD.BPD. (PCB) Cir. No.41/12.05.001/2008-09 dated January 29, 2009 read with notification dated December 15, 2008).

3.12 Maintenance of Cash Balances

For the purpose of maintaining CRR, every   scheduled  bank  is required  to maintain a Principal  Account   with  the  Deposit Accounts Department (DAD) of the Reserve Bank at  the  centre where  the principal office  of the bank is located. 

3.13 No Interest on CRR balances maintained with Reserve Bank

In view of the amendment carried out to RBI Act 1934, omitting sub-section (1B) of section 42, the Reserve Bank does not pay any interest on the CRR balances maintained by Scheduled UCBs with effect from the fortnight beginning March 31, 2007.

3.14 Reporting Requirements 
 
(i) In terms of Section 42(2) of the RBI Act, 1934 every scheduled bank is required to send to the Reserve Bank, a Return [Form B (Annex 2)] at the close of business on each alternate Friday within seven days after the date of which it relates, duly signed by two responsible officers of bank containing the relevant information. Where such alternate Friday is a public holiday under the Negotiable Instruments Act, 1881, for one or more offices of the bank, the Return should give the preceding day's figures in respect of such office or offices, but should nevertheless be deemed to relate to that Friday.

(ii) Where the last Friday of a month is not an alternate Friday for the purpose of the above Return, the banks should send to Reserve Bank, a Special Return in Form B giving the same details as specified above as at the close of business on such last Friday or where such last Friday is a public holiday under the Negotiable Instruments Act, 1981, as at the close of business on the preceding working day and such return should also be submitted within seven days after the date to which it relates. 

(iii) Banks are required to calculate the proportion of their savings bank deposits as at the close of business on March 31 and September 30, into demand and time liabilities in terms of Regulation 7 of the RBI Act, 1934, Scheduled Bank's Regulations, 1951 and report in the prescribed form given in Annex 2.

(iv) Whenever there are wide variations between the sources and uses of funds as being reported in the fortnightly Return and the variations exceed 20 per cent, the banks concerned should advise the reasons for such wide variations in the return.

(v) In terms of Regulation 5(1)(c) of the Scheduled Banks Regulations, the banks are required to furnish a list of the names, the official designations and specimen signatures of the officers of the bank who are authorized to sign on behalf of the bank Returns prescribed under Section 42(2) of the RBI Act, 1934 of whom only two may sign such return. The bank has to submit to Reserve Bank fresh set of signatures whenever there is change in the incumbency.

3.15 Penalty for Non submission /delayed submission of Return

Failure to submit the Return/late submission of the Return attracts the provisions of section 42 (4) of RBI Act, 1934 and the banks are liable for imposition of penalties as indicated therein.

(a) From the fortnight beginning June 24, 2006, the penal interest  for default in maintenance of CRR is charged as under:

(i) In case of default in maintenance of CRR requirement on daily basis, which is presently 70 per cent of the total CRR requirement, penal interest will be recovered for that day at the rate of three per cent per annum above the bank rate on the amount by which the amount actually maintained falls short of the prescribed minimum on that day and if short fall continues on the next succeeding days, penal interest will be recovered at a rate of five per cent per annum above the bank rate.

(ii) In case of default in maintenance of CRR on average basis during a fortnight, penal interest will be recovered as envisaged in sub-section (3) of Section 42 of RBI Act, 1934.

(b) When under the provisions of Section 42 (3) of the RBI Act, 1934 penal     interest at the increased rate of 5 per cent above bank rate has become payable-

(i) Every Director, manager or secretary of the scheduled  bank who is knowingly and wilfully a party to the default, shall be punishable with fine which may extend to five hundred Rupees and with a further fine which may extend to five hundred Rupees for each subsequent fortnight during which default continues.

(ii) The Reserve Bank may prohibit the scheduled bank from receiving any fresh deposit after the said fortnight, and if default is made by the bank in complying with the prohibition referred to in this clause, every director and officer of the bank who is knowingly and wilfully a party to such default or who through negligence or otherwise contributes to such default shall in respect of each such default be punishable with fine which may extend to five hundred rupees and with a further fine which may extend to five hundred rupees for each day after the first, on which a deposit received in contravention of such prohibition is retained by the scheduled bank.

4. Cash Reserves for Non-Scheduled UCBs.

In terms of section 18 of the BR Act, 1949, (AACS), every UCB (not being a scheduled bank) is required to maintain on daily basis a cash reserve, an amount not less that 3 per cent of its DTL as obtaining on the last Friday of the second preceding fortnight and shall submit to the Reserve Bank before fifteenth day of every month a Return showing the amount so held on alternate Fridays during a month with particulars of DTL in India on such Fridays and if any such Friday is a public holiday under Negotiable Instruments Act, 1881, at the close of business on the preceding working day. This balance may be maintained by way of cash resources with itself or by way of balance in a current account with the Reserve Bank or the State Co-operative Bank of the State concerned or by way or net balance in current accounts, or with the Central Co-operative Bank of the district concerned or in one or more of the aforesaid ways. The net balance in current accounts shall in relation to a co-operative bank mean the excess, if any, of the aggregate of the credit balances in current account maintained by that co-operative bank with the State Bank of India or a subsidiary bank or a corresponding new bank, over the aggregate of the credit balances in current accounts held by the said banks with such co-operative bank. With effect from January 29, 2009, UCBs are exempted, till further orders, from the obligation of maintenance of CRR under Section 18 of the BR Act, 1949 (AACS) to the extent of the amounts of deposits maintained by them with IDBI Bank Ltd. in current accounts.

4.1 Computation of NDTL for CRR

The computation of DTL, liabilities to the banking system, assets with the banking system, and NDTL, etc. are explained in detail in Annex 3.

4.2 Reporting Requirements

Non-scheduled banks are required to submit a Return in Form I,  as per proforma given in Annex 4, to the Regional Office concerned of Reserve Bank not later than 20 days after the end of the month to which it relates showing the position, inter alia, of cash reserve maintained by the banks under section 18 of the BR Act, 1949 (AACS) as at the close of business on each alternate Friday during the month, with particulars of its DTL in India on such Fridays or if any such Friday is a public holiday under the Negotiable Instruments Act, 1881, at the close of business on the preceding working day.
Non-scheduled banks are required to furnish in Appendix I, as per proforma given in Annex 5, along with the Return in Form I showing the position of the

(a) cash reserve required to be maintained under section 18 of the BR Act, 1949 (AACS)

(b) cash reserve actually maintained, and the

(c) extent of deficit/surplus for each day of the month.

4.3 Penalty

Non-scheduled banks should ensure to maintain the required cash reserve and submit the prescribed return along with Appendix I (Annex 5) within the stipulated time to the concerned Regional Offices. Failure to submit the Return in time attracts the provisions of section 46(4) of the BR Act, 1949 (AACS), and the banks are liable to imposition of penalties as indicated therein. The banks should, therefore, in their own interest ensure that the stipulations of the section 18 of the BR Act, 1949 (AACS) referred to above are strictly adhered to.

5. Statutory Liquidity Reserves (Scheduled and Non-Scheduled UCBs)
           
In term of section 24 (1) and 24 (2A)(a) of the BR Act, 1949 (AACS), every bank (scheduled and non-scheduled), is required to maintain, on daily basis, liquid assets, the amount of which shall not be less than 25 per cent or such other percentage not exceeding 40 per cent, as may be notified by Reserve Bank, of its DTL in India as on the last Friday of the second preceding fortnight.

5.1 Current Prescription for SLR

Presently the UCBs are required to maintain a uniform SLR of 25 per cent on their total DTL in India.

5.2 Calculation of SLR

The compliance with a daily statement to banks/Reserve Bank listing the securities lodged/utilised this obligation is monitored ordinarily with reference to the position of the SLR as on the relevant alternate Friday as shown in the return in Form I.

Banks are also required to maintain SLR on borrowing through CBLO. However, securities lodged in the Gilt Account of the bank maintained with Clearing Corporation of India Ltd. (CCIL) under Constituent Subsidiary General Ledger account (CSGL) facilities remaining unencumbered at the end of any day can be reckoned for SLR purposes by the bank concerned.  For this purpose, CCIL will provide a daily statement to banks/Reserve Bank listing the securities lodged/utilised/remaining unencumbered.

The details on computation of SLR are furnished in the Annex 3.
           
5.3 Manner of Maintaining Statutory Liquidity Reserves

The liquid assets may be maintained -

(i) in cash, or

(ii) in gold valued at a price not exceeding the current market price, or

(iii) in unencumbered approved securities valued at a price determined in accordance with such one or more of, or combination of the methods of valuation, namely, valuation with reference to cost price, market price, book value or face value, as may be specified by the Reserve Bank from time to time.

(In terms of circular No. IDMD.3426/11.01.01/(D) 225-06 dated March 03, 2006, all Negotiated Dealing System-Order Matching (NDS-OM) segment members were allowed to undertake ‘When Issued transactions’ on NDS-OM platform. The securities bought in the ‘When Issued’ market would be eligible for SLR purposes, only on delivery.) 

The following shall be deemed to be ‘cash maintained in India’:

(i) any excess balance maintained, by a UCB with Reserve Bank over and above CRR requirement, and

(ii) any cash or balances maintained in India by a co-operative bank, with itself or with the state co-operative bank of the state concerned, or by way of net balance in the current accounts and, also any balances maintained with central co-operative bank of the district concerned, in excess of the cash or balances required to be maintained under section 18 of the BR Act, 1949 (AACS). 

(iii) any net balance in the current account.

(iv) any net balances in the current account with IDBI Bank Ltd. - with effect from January 29, 2009 (vide circular UBD.BPD.(PCB) Cir. No.41/12.05.001/2008-09 dated January 29, 2009 read with notification dated December 15, 2008), UCBs are exempted, till further orders, from the obligation of maintenance of CRR under Section 18 of the BR Act, 1949 (AACS) to the extent of the amounts of deposits maintained with IDBI Bank Ltd.

Note: Unencumbered deposits with state/district central co-operative bank of the state/district concerned:

(a) Wherever a district is served by more than one central co-operative bank, the area of operations of each central co-operative bank within the district is quite distinct and separate as per the provisions of the by-laws of the central co-operative bank concerned. The primary cooperative banks operating in the area of the central co-operative bank concerned in the district will be normally affiliated to that central co-operative bank.  Therefore, the central co-operative bank concerned in the district to which the primary co-operative bank is affiliated, or in whose area the primary co-operative bank has its registered office, will be the central cooperative bank of the district concerned for the purposes of Sections 18 & 24 of the BR Act, 1949 (AACS).

(b) Where a primary co-operative bank operates beyond such area, by opening branches in areas served by other central co-operative banks in the district, it can treat its balances with latter also as cash reserve or liquid assets, as the case may be.

(Legally speaking, the banks may invest in gold (including gold ornaments) to maintain liquid assets. However, such investments are of unproductive nature and yield no income, except price increase, which is subject to speculative forces. Keeping these aspects in view as well as the difficulties involved in valuation, safekeeping, etc., the banks should not invest in gold to maintain liquid assets for SLR purposes.)
 
5.4 Explanations / Requirements regarding Approved Securities

(i) In terms of section 5(a) of BR Act, 1949 (AACS), approved securities for the purpose of section 24 of BR Act, 1949 (AACS) means securities in which a trustee may invest money under clause (a), (b), (bb), (c) or (d) of section 20 of the Indian Trusts Act, 1882, and;

(ii) Such of the securities authorised by the Central Government under clause (f) of section 20 of the Indian Trusts Act, 1882.

(Note:  all securities under section 20 of the Indian Trusts Act, 1882 cannot be considered as approved securities for the purpose of section 24 of the BR Act, 1949 (AACS).  Approved securities should be such trustee securities, which have been specified as eligible securities for the purpose of section 24, ibid by Reserve Bank. The SLR status of securities issued by Government of India and the State Governments will be indicated in the Press Release issued by the Reserve Bank at the time of issuance of the securities. An updated and current list of the SLR securities is available on the Reserve Bank’s website (www.rbi.org.in) under the link ‘Database on Indian Economy’. In case of any doubt regarding the classification of a security for the purpose of section 24, the banks may seek clarifications from Reserve Bank.)

(iii) Banks may reckon their reserve fund investments in fixed deposits, or the investments in approved securities as SLR assets provided they are unencumbered.

(iv) Unencumbered approved securities include such securities lodged with another institution for an advance or any other credit arrangement to the extent to which such securities have not been drawn against or availed of.

5.5 Minimum SLR holding in Government Securities:

(i) In terms of circular UBD.No.BR. Cir.42/16.26.00/2000-01 dated April 19, 2001, it was decided that UCBs shall invest in government and other approved securities as indicated below:

Sr.
No.

Category of banks

Minimum SLR holding in Government and other approved securities as percentage of NDTL

1

Scheduled banks

25 per cent

2

Non-Scheduled banks
a) With NDTL of Rs. 25 crore & above

15 per cent

b) With NDTL of less than Rs. 25 crore

10 per cent

ii) Vide circular UBD (PCB).CO.BPD.Cir. No.28/16.26.00/2008-09 dated November 26, 2008, it was decided to increase the proportion of SLR holdings in the form of Government Securities as percentage of NDTL as under:

(a) Non scheduled Tier I banks shall maintain SLR in the form of Government and other approved securities not less than 7.5 per cent of their NDTL by September 30, 2009 and 15 per cent by of their NDTL by March 31, 2010.

(b) The current prescription of holding SLR in Government and other approved securities not less than 15 per cent of their NDTL in respect of non-scheduled Tier II banks shall continue up to March 31, 2010.

(c) From March 31, 2011 onwards all non-scheduled UCBs shall be required to maintain SLR in Government and other approved securities up to 25 per cent of their NDTL.

(iii) The definition for Tier I banks has been since amended vide circular dated March 07, 2008 as under:

Tier I Primary (urban) Co-operative Bank means:

a) Unit banks i.e. banks having a single branch / Head Office and banks with deposits below Rs.100 crore, whose branches are located in a single district.

b) Banks with deposits below Rs.100 crore having branches in more than one district, provided the branches are in contiguous districts and deposits and advances of branches in one district separately constitute at least 95 per cent of the total deposits and advances respectively of the bank.

c) Banks with deposits below Rs.100 crore, whose branches were originally in a single district but subsequently, became multi-district due to reorganization of the district.

(iv) Exemption under Section 24A - up to March 31, 2008 - Considering the difficulties faced by the UCBs in making investment in Government Securities it was decided that limited exemption from the requirements could be granted to a class of UCBs.  Accordingly, vide UBD (PCB) Cir. Mo. 31/16.26.00/2005-06 dated February 17, 2006 through a Gazette Notification dated December 26, 2005, non-scheduled UCBs classified as Tier I banks, were exempted from maintaining SLR in prescribed assets up to 15 per cent of their DTL on keeping the required amount, in interest bearing deposits, with State Bank of India and its subsidiary banks and the public sector banks including Industrial Development Bank of India Ltd. (name changed to IDBI Bank Ltd). The exemption was available from February 17, 2006 in respect of above categories of UCBs and was in force up to March 31, 2008. Subsequently, vide circular UBD. (PCB). Cir. No 37/16.26.000/2008-09 dated January 21, 2009, read with notification dated November 26, 2008, it was decided to continue the exemption provided that with effect from October 1, 2009, such exemption shall not exceed 7.5 per cent of NDTL. The exemption shall stand withdrawn effective from April 1, 2010.

(v) All UCBs are required to maintain investments in Government Securities only in Subsidiary General Ledger (SGL) Accounts with Reserve Bank or in CSGL Accounts of scheduled commercial banks, Primary Dealers (PDs), State Co-operative Banks, and Stock Holding Corporation of India Ltd.(SHCIL) or in the dematerialised accounts with depositories such as National Securities Depositories Ltd (NSDL), Central Depository Services Ltd. (CDSL), and National Securities Clearing Corporation Ltd. (NSCCL).

5.6 Classification and Valuation of Securities for SLR

(i) The Classification and Valuation of Securities for SLR will be done as specified by the Reserve Bank from time to time. For detailed instruction on classification and valuation of securities for SLR, please refer to Master circular No UBD.BPD. MC. No.12/16.20.000/2009-10 dated July 01, 2010.

(ii) A format for reporting the data is given in Annex 6.  Information in the format may be furnished as an Annex, to return in Form I, only to the Regional Office concerned of this department with effect from 2003.The monthly Return should contain information of the fortnights following in the respective months.

5.7 Computation of NDTL for SLR 

(i) The net liabilities to the ‘Banking System’ as computed under clause (d) of explanation to section 18(1) of the BR Act, 1949 (AACS) are exempted from maintenance of SLR.

(ii) The procedure followed for working out net inter-bank liabilities for the purpose of SLR should be in accordance with clause (d) of explanation to section 18(1) of the BR Act, 1949(AACS). The procedure to compute total NDTL for the purpose of SLR and minimum SLR of 25 per cent under section 24(1) of BR Act, 1949 (AACS) must be similar to the procedure followed for CRR purposes as detailed in Annex3.

(iii) In terms of clause (d) of explanation to section 18(1) of the BR Act, 1949 (AACS) the amount of net inter-bank liabilities is to be calculated after reducing 'assets with banking system' from 'liabilities to the banking system'. If it is a positive figure, it should be added to 'liabilities to others' to arrive at total NDTL. If it is a negative figure, net inter-bank liabilities would be considered as zero and 'liabilities to others' would be considered as total NDTL. For the purpose of working out liabilities, subject to a prescribed SLR under the law, if net inter-bank liabilities are positive it should be deducted from total NDTL. However, for the purpose of working out minimum SLR of 25 per cent on total NDTL, net inter-bank liabilities should also be included.

(iv) The computation of DTL, liabilities to the banking system, assets with the banking system, and NDTL, etc. are explained in detail in Annex 3.

(v) In case a UCB has availed a loan from DCCB/SCB with which it maintains deposits, for the computation of SLR, the amount of loan availed should be deducted from deposits irrespective of whether a lien has been marked on such deposits or not, as in case of default the lender bank can exercise the lien and the deposits may not be available to meet the liquidity needs. In case of Salary Earners Co-operative Banks, time up to March 31, 2009 was granted to comply with the instructions (vide circular UBD.CO.BPD. (PCB).No 20/12.05.001/2008-09 dated September 30, 2008).

5.8 Reporting Requirements

(i) All UCBs (scheduled and non-scheduled), are required to submit  a   Return in Form I ( as detailed in Annex 4) under section 24 of the BR Act, 1949 (AACS) every month showing the position of liquid assets maintained under the said section as at the close of business on each alternate Friday during the month.

[Note: In respect of Non-Scheduled UCBs, Return in Form I is common for reporting cash reserves and statutory liquid assets.]

(ii) All UCBs (scheduled and non-scheduled) are required to furnish Appendix II, as per proforma given in Annex 7, along with the Return in Form I showing the position of -

(a) statutory liquid assets required to be maintained under Section 24 of the BR Act,1949 (AACS)

(b) liquid assets actually maintained, and

(c) the extent of deficit/surplus for each day of the month.

5.9 Penal Provisions

(i) In terms of section 24(4)(a) of the BR Act, 1949 (AACS), if on any alternate Friday or, if such Friday is a public holiday, on the preceding working day, the amount maintained by any bank at the close of business on that day falls below the minimum prescribed by or under clause 24(2A)(a), the bank shall be liable to pay to the Reserve Bank in respect of that day’s default, penal interest for that day at the rate of 3 per cent per annum above the bank rate on the amount by which the amount actually maintained falls short of the prescribed minimum on that day.

(ii) Further, vide section 24(4)(b), if the default occurs again on the next succeeding alternate Friday, or, if such Friday is a public holiday, on the preceding working day, and continues on succeeding alternate Fridays or preceding working days, as the case may be, the rate of penal interest shall be increased to a rate of 5 per cent  per annum above the bank rate on each such shortfall in respect of that alternate Friday and each succeeding alternate Friday or preceding working day, if such Friday is a public holiday, on which the default continues.

(iii) Without prejudice to the provisions of section 24(4), on the failure of any bank to maintain on any day, the amount so required to be made by or under clause (a) of section 24(2A), the Reserve Bank under Section 24(5)(a) may, in respect of such default, require the concerned bank to pay penal interest for that day as provided in section 24(4)(a) and if the default continues on the next succeeding working day, the penal interest may be increased as provided in section 24(4)(b) for the days concerned.

(iv) In terms of the provisions of Section 24 (6) (a) the penalty   payable under sub Sections (4) and (5) is to be paid by the banks within a period of thirty days from the date on which the notice is issued by the Reserve Bank. 

(v) Banks should invariably ensure to maintain the required SLR and submit the prescribed Return along with Appendix II (Annex 8) within the stipulated time to Regional Offices concerned. Failure to submit the Return in time will attract the provisions of section 46(4) of the Act ibid and the banks will be liable to imposition of penalties as indicated therein.

(vi) Where it is observed that banks are persistently defaulting despite instructions and repeated advice, the Reserve Bank in addition to levy of penalty on such defaulting banks, may be constrained to consider cancelling the license in case of licensed banks and refuse license in case of unlicensed banks under section 22 of the Act, ibid. The banks should, therefore, in their own interest ensure maintenance of statutory liquidity ratio at prescribed rates and be very prompt in submission of Return in Form I, Form IX, Form 'B' to Regional Office concerned of Reserve Bank.

5.10 Other Penal Provisions

(i) Apart from maintenance of CRR and SLR at the prescribed rates, banks are also required to submit relative statutory Returns well in time to the Regional Office concerned of Reserve Bank. Any violation of these statutory requirements, apart from levy of penal interest would also attract penalties under Section 46(4), read with Section 56 of the BR Act, 1949 (AACS).

(ii) Whenever any bank fails to maintain the requisite amount of Cash Reserve/Liquid Assets, it should explain the reasons for such default in the letter forwarding the Return.


Appendix

Master Circular
Cash Reserve Ratio (CRR) & Statutory Liquidity Ratio (SLR)

List of circulars consolidated in the master circular

No.

Circular No.

Date

Subject

1

UBD. (PCB). No. 3/ 12.03.000 /2009-10

21.04.2010

Section 42 (1) of Reserve Bank of India Act, 1934 – Maintenance of Cash Reserve Ratio (CRR)

2

UBD.(PCB).No.2/12.03.000/2009-10

01.02.2010

UCBs- Section 42 (1) of Reserve Bank of India Act, 1934 – Maintenance of Cash Reserve Ratio (CRR)

3

UBD.(PCB).Cir.No.1/12.03.003/

09.11.2009

Maintenance of Cash Reserve Ratio (CRR) on exempted categories

4

UBD.BPD(PCB)Cir No.41/12.05. 001 /2008-09

29.01.2009

Balances with IDBI Bank Ltd- treatment for CRR/SLR purposes

5

UBD.BPD(PCB)Cir No.37/16. 26. 000/ 2008-09

21.01.2009

Investments in Govt and other approved securities- exemption under section 24A

6

UBD.BPD(PCB)Cir.No.9/12.03.000/2008-09

05.01.2009

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

7

UBD.BPD(PCB)Cir No.28/16.26. 000/ 2008-09

26.11.2008

Section 24- Investments in Govt and other approved securities

8

UBD.BPD(PCB)Cir No.8/12.03.000/2008-09

03. 11.2008

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

9

UBD.BPD(PCB)Cir No.7/12.03.000/2008-09

16.10. 2008

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

10

UBD.BPD(PCB)Cir No.5/12.03.000/2008-09

10.10.2008

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

11

UBD.BPD(PCB)Cir No.4/12.03.000/2008-09

07.10.2008

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

12

UBD CO (PCB) No.20/12.05.001/2008-09

30.09.2008

Treatment of deposits with DCCB/SCB as SLR

13

UBD.BPD(PCB)Cir No.1/12.03.000/2008-09

31.07.2008

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

14

UBD.BPD(PCB)Cir No.3/12.05.001/2008-09

11.07.2008

Balances with IDBI Bank Ltd- treatment for CRR/SLR purposes

15

RBI/2007-2008/ 386Ref: UBD (PCB). No. /6 /12.03.000/2007-08

26.6.2008

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

16

RBI/2007-2008/307 Ref: UBD (PCB). No. /5 /12.03.000/2007-08

30.4.2008

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

17

RBI/2007-2008/293 Ref: UBD (PCB).No./4 /12.03.000/2007-08

22.4.2008

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

18

RBI/2007-2008/177   UBD (PCB).No./ 3 /12.03.000/2007-08

1.11.2007

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

19

RBI/2007-2008/142Ref: UBD (PCB) .No ./17/12.05.001/2007- 08 

20.9.2007

Treatment of deposits with DCCB/SCBs as SLR

20

RBI/2007-2008/110Ref: UBD (PCB). No./9/12.03.000/2007-08

31.7.2007

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

21

UBD(PCB)Cir No.7/12.03.000/2006-07

25.04.2007

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

22

UBD(PCB)Cir No.6/12.03.000/2006-07

25.04.2007

Maintenance of Cash Reserve Ratio (CRR)  on Exempted Categories

23

UBD(PCB)Cir No.5/12.03.000/2006-07

05.04.2007

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

24

UBD(PCB)Cir No.4/12.03.000/2006-07

01.03.2007

Maintenance of Cash Reserve Ratio (CRR)  on Exempted Categories

25

UBD(PCB)Cir No.3/12.03.000/2006-07

01.03.2007

Section 42(1) of RBI Act, 1934- Maintenance of Cash Reserve Ratio (CRR)

26

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

14.02.2007

Section 42(1) of RBI Act, 1934- Maintenance of CRR

27

UBD(PCB)Cir No.22/16.26.000/2006-07

11.12.2006

Section 42(1) of RBI Act, 1934- Maintenance of CRR

28

UBD (PCB)Cir.No.6/16.26.000/2006-07

16.08.2006

Section 42(1)of RBI Act.1934-Maintenance of CRR

29

UBD (PCB)Cir.No.59/16.26.000/2005-06

22.06.2006

RBI Act.1934(Amendment) -maintenance of CRR

30

UBD(PCB)CIr.60/16.26.000/2005-06

22.06.2006

RBI Act.1934(Amendment) -maintenance of CRR

31

UBD (PCB).Cir.No.31/16.26.00/2005-06

17.02.2006

BR Act.1949 (AACS)- Investment in Government and other Approved Securities by PCBs- Exemption under Section 24A

32

UBD(PCB).BPD.Cir.41/16.20.000/2005-06

29.03.2006

Investment portfolio of Urban Co operative Banks (PCBs)- Classification and Valuation of Investments.

33

UBD(PCB). Cir.41/16.20.00/2004-05

28.03.2005

Investment portfolio of Urban Cooperative Bank (PCBs)-Classification and valuation of Investments.

34

UBD. PCB.Cir 19/16.11.00/2004-05

13.09.2004

Section 42(1) of Reserve Bank of India Act. 1934- Maintenance of Cash Reserve Ratio (CRR) by Scheduled Primary (Urban) Co- operative Banks

35

UBD.IP.(PCB)Cir No.16.11.00/2002-03

29.04.2003

Section 42(1) of RBI Act, 1934 – Maintenance of CRR by scheduled primary (urban) co-op. banks

36

UBD.BR.No.7/16.11.00/2002-03

12.12.2002

Section 42 of the RBI Act, 1934 – payment of interest on eligible CRR balances on monthly basis

37

UBD.BR.Cir. No.12/16.11.00/2001-02

20.05.2002

Section 42(1) of RBI Act, 1934 – Maintenance of CRR by scheduled primary (urban) co-op. banks

38

UBD.BR.Cir.No.11/16.11.00/2001-02

29.04.2002

                    -do-

39

UBD.BR.(PCB)Cir No.20/16.11.00/2001-02

22.10.2001

Change in Bank Rate

40

UBD.No.BR.Cir/42/16.26.00/2000-01

19.04.2001

Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Section 24 – Investment in Government and other approved Securities by Urban Co-operative Banks (PCBs)

41

UBD.No.CO.BR.6/16.26.00/99-2000

27.04.2000

Cash balances required to be maintained by Scheduled Primary (urban) Co-operative Banks

42

UBD.No.BR.13A/16.11.00/99-2000

29.10.1999

Section 42(1) of the Reserve Bank of India Act, 1934

43

UBD.No.BSD-I.28/12.05.01/98-99

23.04.1999

Inter-branch Accounts – Old outstandings credit entries

44

UBD.No.BR.PCB.CIR.21/16.26.00/98-99

01.03.1999

Penal Rate of Interest on the shortfall in the maintenance of CRR/SLR

45

UBD(SUB)BR.21/16.26.00/97-98

20.06.1998

Maintenance of Cash Reserve Ratio (CRR) under Section 42 of the Reserve Bank of India Act, 1934 and Statutory Liquidity Ratio (SLR) under section 24 of the Banking Regulation Act, 1949 (AACS)

46

UBD.No.(Cir)BR.60/16.26.00/97-98

25.05.1998

Sections 18 and 24 of the B.R. Act, 1949 (AACS )- Maintenance of Cash Reserve Ratio and Statutory Liquidity Ratio and Submission of Return in Form I

47

UBD.No.BR.PCB.Cir.52/16.26.00/97-98

29.04.1998

Penal Rate of interest on the shortfall in the maintenance of CRR/SLR

48

UBD.No.BR.PCBCIR.51/16.26.00/97-98

11.04.98

Penal Rate of interest on the shortfall in the maintenance of CRR/SLR

49

UBD.No.16/24.00/97/98

18.03.1998

Penal Rate of interest on the shortfall on the maintenance of CRR/SLR

50

UBD.No.BR.PCB.CIR.36/16.11.00/97-98

16.01.1998

Penal Rate of interest on the shortfall in the maintenance of CRR/SLR

51

UBD.No.BR.SUB.18/16.11.00/97-98

02.12.1997

Section 42(1A) of the Reserve Bank of India Act, 1934 – Cash Reserve Ratio (CRR) on Non-Resident (External) Rupee Accounts (NRE) Accounts Scheme

52

UBD.No.BR.16/16.04.00/97-98

06.11.1997

Section 42 of the Reserve Bank of India Act, 1934 – Maintenance of Cash Reserve Ratio (CRR)

53

UBD.No.BR.PCB.CIR.17/16.11.00/97-98

06.11.1997

Penal Rate of interest on the shortfalls in the maintenance of CRR/SLR

54

UBD.No.BR.SUB 10/16.11.00/96-97

15.04.1997

Section 42 (1A) of the Reserve Bank of India Act, 1934 – Cash Reserve Ratio (CRR) on Non-Resident (External) Rupee Accounts (NRE Accounts) Scheme

55

UBD.No.BR.SUB.12/16.11.00/96-97

15.04.1997

Section 42(1) of the Reserve Bank of India Act, 1934 – Change of Cash Reserve Ratio on Liabilities to the Banking System

56

UBD.No.BR.Ad/18/16.11.00/96-97

15.04.1997

Section 42(1A) of Act, 1934 – Cash the Reserve Bank of India Reserve Ratio (CRR) on Foreign Currency Non-Resident Accounts (Banks) [(FCNR)(B)] Scheme Non-Resident (Non-Repatriable) Rupee Deposit (NRNR)

57

UBD.No.BR.PCB.CIR.53/16.11.00/96-97

15.04.1997

Penal Rate of Interest on the shortfalls in the maintenance of CRR/SLR

58

UBD.No.BR.70/16.04.00/95-96

29.06.1996

Netting Concept for Reserve Requirements – Dealings with Primary Dealers

59

UBD.No.BR.SUB.5/16.11.00/95-96

03.04.1996

Cash Reserve Ratio on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)

60

UBD.No.BR.Ad-5/16.11.00/95-96

06.01.1996

Cash Reserve Ratio (CRR) on Non-resident (Non-Repatriable) Rupee Deposit (NRNR) Scheme and on Foreign Currency Non-Resident Accounts (Banks) FCNR (B) Scheme

61

UBD.No.BR.Cir.33/16.26.00/95-96

03.01.1996

Banking Regulation Act, 1949 (As applicable to Co-operative Societies) Section 24-Investment in Government and other approved securities by primary co-operative banks

62

UBD.No.BR.AD-4/16.11.00/95-96

06.12.1995

Cash Reserve Ratio on Foreign Currency Non-Resident Accounts (Banks) FCNR(B) Scheme

63

UBD.No.BR/AD/2/16.11.00/95-96

11.11.1995

Cash Reserve Ratio on Foreign Currency (Non-Resident) Accounts (Banks) Scheme

64

UBD.No.BR.AD.1/16.11.00/95-96

02.11.1995

Cash Reserve Ratio (CRR) on Non-resident (Non-Repatriable) Rupee Deposit (NRNR) Scheme

65

UBD.No.BR.SUB.2/16.11.00/95-96

02.11.1995

Cash Reserve Ratio on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)

66

UBD.No.BR(CIR)21/16.26.00/95-96

12.10.1995

Valuation of Securities for Statutory Liquidity Ratio (SLR)

67

UBD.No.CO(BR)AD.3/16.05.00/95-96

29.09.1995

Section 42 of the Reserve Bank of India Act, 1934 – Cash Reserve Ratio (CRR) – Maintenance of minimum level of 85 per cent on a daily basis.

68

UBD.No.Cir.63/16.26.00/94-95

16.06.1995

Banking Regulation Act, 1949 (As applicable to Co-operative Societies) – Section 24 – Investment in Government and other approved securities by Primary Co-operative Banks

69

UBD.No.CO.(Br)SUB.5/16.26.00/94-95

28.03.1995

Cash balances required to be maintained by Scheduled Primary Co-operative Banks

70

UBD.No.BR.35/16.04.00/94-95

31.12.1994

Netting concept for Reserve Requirements – Dealings with Securities Trading Corporation or India Limited (STCI)

71

UBD.BR.3/16.26.4/94-95

13.12.1994

Cash balances required to be maintained by Scheduled primary co-operative banks

72

UBD.BR.379/16.11.00/94-95

13.12.1994

Section 42(1) of the RBI Act, 1934 – Returns in Form 'B' Exempted Categories of deposits from maintenance of reserve requirements

73

UBD.No.BR.2/16.26.00/94-95

24.11.1994

Auction of Government Stock 2002, for which the payment is made in instalments

74

UBD.BR.44/16.26.00/94-95

22.07.1994

Maintenance of Cash Reserve Ratio and Statutory Liquidity Ratio

75

UBD.Cir (PCB)No.53/16.26.00/93-94

08.02.1994

Maintenance of cash reserve and statutory liquid assets under Sections 18 and 24 respectively of Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Submission of daily position

76

UBD.No.Cir(SUC)No.158/16.26.00/93-94

08.02.1994

Maintenance of liquid assets under Section 24 of the banking Regulation Act (As Applicable to Co-operative Societies) – Submission of daily position along with Return in Form I.

77

UBD.No.155/16,.26.00/93-94

25.01.1994

Section 18 & 24 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) Penalty

78

UBD.BR.48,49/16.11.00/93-94

14-07-1993

Section 42(1) of the Reserve Bank of India Act, 1934 – Returns in Form 'B' – Exempted categories of deposits from maintenance of reserve requirements

79

UBD.No.BR.72/A.12(24)92/93

12.05.1993

Maintenance of cash reserve and statutory liquid assets under Sections 18 and 24 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) with Section 42 of the Reserve Bank of India

80

UBD.No.BR.86/A.9/92-93

09.10.1992

Section 42 of the Reserve Bank of India Act, 1934 Maintenance of Cash Reserve Ratio (CRR)

81

UBD.No.RBL.125/i/91-92

03.06.1992

Scheduled Primary Co-operative Banks – Clarifications on Returns under Section 42 of the Reserve Bank of India Act, 1934

82

UBD.No.BR.773/A.9-91/92

05.05.1992

Section 42 of the Reserve Bank of India Act, 1934 – Maintenance of Cash Reserve Ratio (CRR)

83

UBD.BR.349/A.9-91-92

08.11.1991

Section 42 of the Reserve Bank of India Act, 1934 – Maintenance of Cash Reserve Ratio (CRR)

84

UBD.No.BR.762/A-9/90-91

29.05.1991

Section 42 of the Reserve Bank of India Act, 1934 – Maintenance of Cash Reserve Ratio (CRR)

85

UBD.BR.581/A.9-90/91

04.03.1991

The Reserve bank of India Scheduled Bank's Regulations, 1951 – Classification of Deposits Accepted under the Home Loan Accounts Scheme of the National Housing Bank in Form 'B'

86

UBD.BR.400/A.9-90-91

24.12.1990

Maintenance of Minimum Average Balance under Section 42(1) of the Reserve Bank of India Act, 1934

87

UBD.No.BR.194/A.9-90-91

28.08.1990

Minimum Average Balance under Section 42(1) of the Reserve Bank of India Act, 1934

88

UBD.BR.19/A.6-89/90

10.03.1990

Netting Concept for Reserve Requirements – Dealings with Discount and Finance House of India Ltd. (DFHI)

89

UBD.BR.50/A.12(24)-89/90

18.01.1990

Section 24 of the Banking Regulation Act, 1949 – Eligible Securities for the purpose of Statutory Liquidity Ratio – Kisan Vikas Patras and Fixed Deposits with Sardr Sarovar Narmada Nigam Ltd.

90

UBD.No.RBL.835/1.88/89

27.03.1989

Grant of Scheduled Status to Urban Co-operative Banks – Computation of Cash Reserve and Liquid Assets as well as Submission of various statutory Returns

91

UBD.RBL.315/1-88-89

10.10.1988

Submission of Fortnightly Returns by Scheduled Primary Co-operative Banks under Section 42(2) of the Reserve Bank of India Act, 1934

92

UBD.No.BR.229/A-9-88/89

09.09.1988

Inclusion of the Select Primary Urban Co-operative Banks in the Second Schedule to the Reserve Bank of India Act, 1934

93

UBD.BR.163/A-9/99-89

19.08.1988

Inclusion of the Name of Your Bank in the Second Schedule to the Reserve Bank of India Act, 1934

94

UBD.No.BR.35/A 12 (24)-86/87

18.10.1986

Banking Regulation Act, 1949 (as applicable to co-operative societies) – Section 18 and 24 – Computation of Demand and Time Liabilities (DTL)

95

UBD.No.BR.1455/A12(24)-85/86

31.05.1986

Banking Regulation Act, 1949 (as applicable to co-operative societies) – Section 24 – Investment in Units issued by the Unit Trust of India

96

UBD.BR.871/A.12(24)-84/85

10.05.1985

Banking Regulation Act, 1949 (as applicable to co-operative societies) – Section 24 – Investment made under national deposit scheme

97

UBD.BR.764A/A-6-84/85

29.03.1985

Banking Laws (amendment) Act, 1983-84 – Bringing into force of remaining provisions

98

UBD.BR.498/A.12(24)-84-85

08.01.1985

Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Section 24 – Investment in Government and Other Trustee Securities by Primary Co-operative Banks

99

UBD.BR.16/A.6-84-85

09.07.1984

Banking Law (Amendment) Act, 1983

100

DBOD.No.UBD.BR.180/A.6-82/83

21.09.1982

Amendment in the banking regulation act, (as applicable to co-operative societies)

101

ACD.ID.(DC)1800/R.36-79/80

10.01.1980

Directive relating to subscription/purchase of 7 year national rural development bonds

102

ACD.BR.277/B.1-74-5

30.09.1974

The banking regulation (co-operative societies) rules, 1966 amendment to rules 5 and 9 and change in the forms I and VII of the returns prescribed there under

103

ACD.BRL.612/C/71-2

24.01.1972

Register showing the daily position of cash reserves and liquid assets maintained under Section 18 and 24 of the banking regulation act, 1949 (as applicable to co-operative societies) primary co-operative bank

104

ACD.BR.760/A.1/68-9

23.01.1969

The Banking Laws (Amendment) Act, 1968

105

ACD.BR.750/B.I/67-8

24.11.1967

The Banking Laws (application to co-operative societies) Act, 1965

106

ACD.BR.474/A.12(24)/67-8

27.09.1967

Section 24 of the Banking Regulation Act, 1949 (As applicable to co-operative Societies) – Maintenance of Liquid Assets

107

ACOD.BR.392/B.1-65/66

01.03.1966

The Banking Laws (application to co-operative societies) Act, 1965

108

ACD.BR.333/A.1-65/66

09.02.1966

The Banking Laws (application to co-operative societies) Act, 1965

 
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