Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: empanelment :: Central Excise rule to resale the machines to a new company :: form 3cd :: ACCOUNTING STANDARDS :: VAT RATES :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt
 
 
« Latest Circulars »
 Issuance of Rupee denominated bonds overseas – Multilateral and Regional Financial Institutions as Investors
 RBI-Formation of twenty one new districts in the State of Telangana - Assignment of Lead Bank Responsibility
 RBI imposes penalty on Janata Urban Co-operative Bank Ltd., Wai, District Satara
 Monitoring of Foreign Investment under PIS in Indian Companies- Incorporation in Ban List–M/s HDFC Bank Ltd.
 Reserve Bank of India seeks Comments on Draft Circular on Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
 Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) - Withdrawal of Fortnightly return
 RBI-Foreign Investments in India
  RBI cancels the Licence of the Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra
  Finance Minister meets the Directors of the RBI Central Board
  RBI-Removal of limits on withdrawal of cash from Saving Bank Accounts
 Government of India nominates Dr. Rajiv Kumar, Dr. Ashok Gulati and Shri Manish Sabharwal on RBI Central Board

Fourth Bi-monthly Monetary Policy for 2014-15 Introduction of Liquidity Adjustment Facility (LAF) for Scheduled Urban Cooperative Banks
October, 30th 2014

RBI/2014-15/279 
UBD.BPD.(SCB).Cir.No.1/16.27.000/2014-15

October 29, 2014

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

Dear Sir / Madam,

Fourth Bi-monthly Monetary Policy for 2014-15
Introduction of Liquidity Adjustment Facility (LAF) for Scheduled Urban Cooperative Banks

Please refer to para 24 of Fourth Bi-Monthly Monetary Policy Statement 2014-15 (extract appended) by Reserve Bank of India on September 30, 2014 on the captioned subject.

2. In order to provide an additional avenue for liquidity management to Scheduled Urban Co-operative Banks (UCBs), it has been decided that, with effect from November 28, 2014, Liquidity Adjustment Facility (LAF) will be extended to Scheduled UCBs which are CBS enabled, have CRAR of at least 9 per cent and are fully compliant with the eligibility criteria prescribed for LAF. The terms and conditions for availing LAF including minimum bid size prescription etc would be as per the instructions issued by Financial Markets Department (FMD)of the Reserve Bank of India from time to time.

3. The names of UCBs which meet the eligibility norms to participate in LAF (Positive List) those of UCBs found ineligible (Negative List) will be communicated shortly to the FMD by Urban Banks Department (UBD) under intimation to the banks concerned.

4. The eligibility status of the banks in the Positive List will be reviewed on an ongoing basis to ensure that the financial parameters are being complied with at all times. However, additions to the Positive List will be considered annually around the first week of January based on the financial position for the immediate preceding financial year as assessed by the Reserve Bank’s Inspection.

Yours faithfully,

(Suma Varma)
Chief General Manager


Fourth Bi-monthly Monetary Policy for 2014-15 (para 24)

24. As part of the Reserve Bank’s continuous engagement in broadening and deepening financial markets, it has been decided to:

  • allow access to the liquidity adjustment facility (LAF) to scheduled urban co-operative banks (UCBs) in order to provide them an additional avenue for liquidity management, provided they fully comply with the eligible criteria prescribed for participation in the LAF including having current accounts and SGL accounts with Reserve Bank, Mumbai, the minimum bid size prescription and the like.

Detailed guidelines will be issued separately by mid-October 2014.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions