RESERVE BANK OF INDIA
CENTRAL OFFICE
URBAN BANKS DEPARTMENT
1ST FLOOR, GARMENT
HOUSE
WORLI, MUMBAI- 400 018
RBI/2004/ 134
BPD.PCB Cir. 42 /09.11.00/2003-04
April 1, 2004
The Chief Executive Officers of
All Primary (Urban) Co-operative
Banks
Dear Sir/Madam,
Maintenance of CSGL accounts.
Please refer to our Circular UBD
No. BPD.PCB.Cir. 33 / 09.11.00/2003-04 dated February 11, 2004 advising
UCBs to close the Constituent Subsidiary General Ledger (CSGL) Accounts of other
Urban Co-operative Banks (UCBs) if any, maintained by them.
2. It has come to our notice that
some UCBs are maintaining CSGL accounts of Charitable Institutions, Trusts,
etc. It is hereby clarified that UCBs should not maintain CSGL accounts of any
entity. UCBs are, therefore, advised that they should immediately close all
CSGL accounts and report compliance to the concerned Regional Office.
3. Please acknowledge receipt of
this circular to our Regional Office.
Yours faithfully,
Sd/-
(S. Karuppasamy)
Chief General Manager-in-Charge
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