All
Scheduled State Co-operative Banks
Dear Sir,
Maintenance
of Cash Reserve Ratio (CRR) on Exempted Categories
Please
refer to our Circular RBI/2005-2006/425
RPCD.RF.BC.94/07.02.01/2005-06 dated June 22, 2006 on the captioned subject.
It has been decided to withdraw the above circular with immediate effect. It has,
however, been decided that every Scheduled State Co-operative Bank shall continue
to be exempted from maintaining average CRR with effect from June 22, 2006 on
the following liabilities, subject to the maintenance of statutory minimum CRR
of 3 per cent on its total demand and time liabilities:
(i)
Liabilities to the banking system in India as computed under Clause (e) of the
Explanation to Section 42 (1) of the RBI Act, 1934; and
(ii)
Transactions in Collateralized Borrowing and Lending Obligation (CBLO) with Clearing
Corporation of India. (CCIL).
2.
A copy of the relative notification RPCD.RF.BC.55/07.02.01/2006-07
dated March 02, 2007 is enclosed.
3. Please acknowledge
receipt to our Regional Office concerned.
Yours
faithfully
(K.Bhattacharya)
General
Manager