RBI/2007-2008/162
RPCD.CO.
RRB. No. BC. 32 /03.05.33(C) / 2007-08
October
18, 2007
All Regional Rural
Banks
Dear Sir
Opening
of Currency Chests by RRBs
Please
refer to item (3) of our circular RPCD.CO.
RRB. No. BC.57 / 03.05.33 (F)/ 2005-06 dated December 27, 2005. In this connection,
it has been decided that Regional Rural Banks fulfilling the following eligibility
norms may henceforth apply for currency chest facility to the Regional Office
concerned of the Department:
i)
The bank should have a minimum networth of Rs. 50 crore as per the latest NABARD
inspection report;
ii) The
bank should have earned net profit for the last three years and should not have
accumulated losses;
iii) The
Gross NPA of the bank should not be more than 10 per cent;
iv)
There should be no CRR / SLR violations during the previous and current years
with reference to the date of application of the bank;
v)
The bank should not have violated any prudential norms including individual and
group exposure norms fixed by RBI/NABARD; and
vi)
The bank should have complied with the instructions issued by RBI/ NABARD on loans
and advances to directors, their relatives/firms, etc.
Yours
faithfully
(C.S.
Murthy)
Chief General Manager-in-
Charge