Balances held by State and Central Co-operative Banks with IDBI Bank Limited - Treatment for CRR / SLR Purpose
December 7, 2010
The Chief Executive Officers,
All State / Central Co-operative Banks (StCBs/DCCBs)
Balances held by State and Central Co-operative Banks with IDBI Bank
Limited - Treatment for CRR / SLR Purpose
It has been decided that State and Central Co-operative Banks are exempted till further order from the obligation of maintenance of cash reserve ratio (CRR) under section 18 or assets in the form of cash, gold or unencumbered approved securities under section 24 read with section 56 of the Banking Regulation Act, 1949, to the extent of the amounts deposited by them with IDBI Bank Limited, in current account.
2. A copy of the notification RPCD.CO.RCB.No.26/07.02.01/2010-11 dated October 22, 2010 published in Part III Section 4 of the Gazette of India (Extraordinary) dated November 6, 2010 is enclosed.
3. Please acknowledge receipt to the Regional Office concerned.
Chief General Manager
Encl: As stated