UBD(PCB)No/5
/12.03.000/2006-07 April
05, 2007 NOTIFICATION In
exercise of the powers conferred under the Sub-section (1) of Section 42 of the
Reserve Bank of India Act, 1934, and in supersession of the Notification UBD(PCB)No.3/12.03.000/2006-07
dated March 01, 2007, the Reserve Bank of India hereby notifies that the average
Cash Reserve Ratio (CRR) required to be maintained by Scheduled Primary (Urban)
Co-operative Banks shall, from effective dates mentioned below, be at the percentage
points as indicated below.
| Effective
Date
(i.e., the fortnight beginning from) |
CRR
on net demand
and time liabilities (per cent) | |
April
14, 2007 | 6.25 |
| April
28, 2007 | 6.50 |
However,
the effective CRR required to be maintained by Scheduled Primary (Urban) Co-operative
Banks on total demand and time liabilities shall not be less than 3.00 per cent,
as stipulated under the Act, ibid. (Anand
Sinha)
Executive
Director |