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Banking Laws (Amendment) Act, 2012 Amendments to Sections 18 & 24 of the Banking Regulation Act, 1949 (AACS) - Maintenance of Cash Reserve Ratio (CRR) for Non-Scheduled StCBs and CCBs and Statutory Liquidity Ratio (SLR) for StCBs and CCBs
July, 22nd 2014

RBI/2014-15/139
RPCD.RCB.BC.No.16/07.51.020/2014-15

July 21, 2014

All State and Central Cooperative Banks (StCBs/CCBs)

Dear Sir/ Madam,

Banking Laws (Amendment) Act, 2012 – Amendments to 
Sections 18 & 24 of the Banking Regulation Act, 1949 (AACS) - 
Maintenance of Cash Reserve Ratio (CRR) for Non-Scheduled
StCBs and CCBs and Statutory Liquidity Ratio (SLR) for StCBs and CCBs

Please refer to our circular RPCD.RCB. BC No.110/07.51.020/2013-14 dated June 5, 2014 in terms of which all StCBs/CCBs are required to maintain SLR in the form and manner as specified in the Notification RPCD.RCB.BC.No.109 /07.51.020/2013-14 dated June 5, 2014. StCBs/CCBs had been given time upto March 31, 2015 for complying with the instructions mentioned in the said Notification.

2. On a review, it has been decided to extend this period and a roadmap for maintenance of SLR in the form of approved securities on NDTL as on July 25, 2014, in a phased manner, by StCBs/CCBs as under is advised:

Date

Investment in approved securities as percentage of 
NDTL as on July 25, 2014

March 31, 2015

5%

March 31, 2016

10%

March 31, 2017

Entire SLR as may be prescribed by RBI on that date

3. In the interim period, balances maintained by CCBs with the StCB of the State concerned and term deposits held by StCBs/CCBs with Public Sector Banks will be considered eligible for being reckoned for SLR purpose upto March 31, 2017.

4. SLR on incremental NDTL over the level as on July 25, 2014 has to be maintained by StCBs/CCBs in the form of approved securities.

5. A copy of the relative notification RPCD.RCB.BC.No.15/07.51.020/2014-15 dated July 21, 2014 is enclosed.

Yours faithfully,

(A.G. Ray)
General Manager


RPCD.RCB.BC.No. 15 /07.51.020/2014-15

July 21, 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, the Reserve Bank of India specifies that the investments referred to in para 2 of the notification RPCD.RCB.BC.No.109 /07.51.020/2013-14 dated June 5, 2014 shall be deemed to be assets for the purpose of calculating the percentage of SLR specified in the said Notification, till March 31, 2017. SLR on incremental NDTL over the level as on July 25, 2014 shall be maintained by StCBs/CCBs in the form of approved securities. SLR investments on NDTL as on July 25, 2014 shall be phased out as per the transition path specified in the circular RPCD. RCB. BC.No. 16 /07.51.020/2014-15 dated July 21, 2014.

(Dr.Smt. Deepali Pant Joshi)
Executive Director

 
 
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