Notifications

(50 kb)
Investments in Market Infrastructure Companies by Primary (Urban) Cooperative Banks

RBI/2013-14/583
UBD.BPD.(PCB).Cir.No 58/16.20.000/2013-14

May 7, 2014

The Chief Executive Officer
All Primary (Urban) Co-operative Banks

Dear Sir/Madam,

Investments in Market Infrastructure Companies
by Primary (Urban) Cooperative Banks

Please refer to our circular UBD.(PCB).BPD.Cir.46/16.20.00/2008-09 dated January 30, 2009, in terms of which guidelines were issued to Urban Co-operative Banks (UCBs) for investment in Non-SLR securities.

2. On the basis of representations received from some UCBs regarding investment in shares of Market Infrastructure Companies (MICs), the following decision has been taken:

  1. Investments made by UCBs for acquiring membership of MICs will be reckoned as Non-SLR investments;
  2. UCBs are allowed to exceed the limit for investments in Non-SLR/unlisted securities prescribed in Circular dated January 30, 2009, if it becomes necessary to do so for acquiring membership of MICs;
  3. The MICs eligible for such investments by UCBs are Clearing Corporation of India Ltd., National Payments Corporation of India and Society for World Wide Inter-Bank Financial Tele-Communication (SWIFT). The list of eligible MICs will be updated from time to time by the Reserve Bank of India.

Yours faithfully,

(A.K. Bera)
Principal Chief General Manager


2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Archives
Top