Notifications

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Section 24 of the Banking Regulation Act, 1949 (AACS) – Maintenance of Statutory Liquidity Ratio (SLR)

RBI/2014-15/162
UBD.BPD.(PCB).Cir.No. 7/16.26.000/2014-15

August 5, 2014

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

Madam/Dear Sir,

Section 24 of the Banking Regulation Act, 1949 (AACS)
– Maintenance of Statutory Liquidity Ratio (SLR)

Please refer to our circular UBD.BPD.(PCB).Cir. No. 68/16.26.000/2013-14 dated June 5, 2014 on the captioned subject.

2. As announced in the Third Bi-Monthly Monetary Policy Statement 2014-15 by Reserve Bank of India on August 5, 2014, it has been decided to reduce the Statutory Liquidity Ratio (SLR) of Urban Co-operative Banks from 22.50 per cent of their Net Demand and Time Liabilities (NDTL) to 22.0 per cent with effect from the fortnight beginning August 9, 2014.

3. A copy of the relative notification UBD.BPD.(PCB).Not.No.1/16.26.000/2014-15 dated August   5, 2014 is enclosed.

Yours faithfully,

(A.K.Bera)
Principal Chief General Manager

Encl: 1


UBD.BPD.(PCB).Not. No. 1/16.26.000/2014-15

August 5, 2014

NOTIFICATION

In exercise of the powers conferred by sub-section (2A) of section 24 of the Banking Regulation Act, 1949 (10 of 1949) read with section 56 thereof, and, in partial modification of the Notification UBD.BPD.(PCB).Not. No.2 /16.26.000/2013-14 dated June  5,  2014,  the Reserve Bank hereby specifies that with effect from the fortnight beginning August 9, 2014, every primary (urban) co-operative bank shall maintain in India assets as detailed in the said Notification, the value of which shall not at the close of business on any day be less than 22.0 per cent of the net demand and time liabilities in India as on the last Friday of the second preceding fortnight.

(N.S. Vishwanathan)
Executive Director


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