The Chief Executive Officers of All Primary (Urban) Co-operative Banks/ State and Central Co-operative Banks
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.7/16.26.000/2014-15 dated August 5, 2014 andRPCD.RCB.BC.No.22/07.51.020/2014-15 dated August 6, 2014 on the captioned subject.
2. As announced in the Sixth Bi-Monthly Monetary Policy Statement 2014-15 by Reserve Bank of India on February 3, 2015, it has been decided to reduce the Statutory Liquidity Ratio (SLR) of Urban Co-operative Banks, State and Central Co-operative Banks from 22.0 per cent of their Net Demand and Time Liabilities (NDTL) to 21.5 per cent with effect from the fortnight beginning February 7, 2015.
3. A copy of the relative notification DCBR.BPD.(PCB/RCB).Not.No.2/16.26.000/2014-15 dated February 3, 2015 is enclosed.
(Suma Varma) Principal Chief General Manager
February 3, 2015
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.1/16.26.000/2014-15 dated August 5, 2014 and RPCD.RCB.BC.No.21/07.51.020/2014-15 dated August 6, 2014, the Reserve Bank hereby specifies that with effect from the fortnight beginning February 7, 2015, every Primary (Urban) Co-operative Bank shall maintain in India assets as detailed in notification UBD.BPD.(PCB).Not.No.2/16.26.000/2013-14 dated June 5, 2014 and every State Co-operative Bank and Central Co-operative Bank shall maintain in India assets as detailed in the Notifications RPCD.RCB.BC.No.109/07.51.020/2013-14 dated June 5, 2014 and RPCD.RCB.BC.No.15/07.51.020/2014-15 dated July 21, 2014 , the value of which shall not at the close of business on any day be less than 21.5 per cent of the net demand and time liabilities in India as on the last Friday of the second preceding fortnight.