RBI/2004/78
| Ref. UBD No. BPD.PCB.Cir. 35 /13.05.00/2003-04. |
February 27, 2004
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The Chief Executive Officers of all
Primary (Urban) Co-operative Banks (UCBs)
Dear Sir/Madam,
Placement of deposits by Non-scheduled
UCBs with strong Scheduled UCBs.
Please refer to para 1(a) of our
circular UBD
No. BPD. PCB. Cir. 46 /16.20.00/ 2002-03 dated May 17, 2003 on the captioned
subject. It has been decided to delete the following criteria for considering
the scheduled urban co-operative banks as strong.
"The bank has ‘A’ rating
from Co-operative Auditors for the
last three consecutive years".
All other terms and conditions
for acceptance of deposits will remain unchanged.
2. Please acknowledge receipt of
this circular to our Regional Office.
Yours faithfully,
Sd/-
(S. Karuppasamy)
Chief General Manager-in-Charge
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