2. As set out in the Reserve Bank'sPress Release 2012-2013/452 dated September 17, 2012, it has been decided to reduce the Cash Reserve Ratio (CRR) of Scheduled Primary (Urban) Co-operative Banks by 25 basis points from 4.75 per cent to 4.50 per cent of their Net Demand and Time Liabilities (NDTL) with effect from the fortnight beginning September 22, 2012.
3. A copy of the relative notification UBD.BPD.(SCB).DIR. No. 2/12.03.000/2012-13 dated September 17, 2012 isenclosed.
4. Please acknowledge receipt.
(Kamala Rajan) Chief General Manager
September 17, 2012
In exercise of the powers conferred under the sub-section (1) of Section 42 of the Reserve Bank of India Act, 1934, and in partial modification of the earliernotification UBD.BPD(SCB).DIR.No.7/12.03.000/2011-12 dated March 9, 2012the Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR) required to be maintained by every Scheduled Primary (Urban) Co-operative Bank shall be 4.50 per cent of its net demand and time liabilities, from the fortnight beginning September 22, 2012.