UCBs - Maintenance of CSGL Accounts
UBD. CO. (PCB).BPD.Cir.52 /09.11.00/2009-10
April 5, 2010
The Chief Executive Officers of
All Primary (Urban) Co-operative Banks
Maintenance of CSGL Accounts
Please refer to our circular UBD.No.BPD.PCB.Cir.33/09.11.00/2003-04 dated February 11, 2004 in terms of which all UCBs were advised to close the Constituent Subsidiary General Ledger (CSGL) Accounts of other Urban Co-operative Banks (UCBs), if any, maintained by them.
2. The Reserve Bank of India has since reviewed the eligibility criteria for opening and maintenance of CSGL Accounts. It has been decided that scheduled urban co-operative banks with net worth of Rs. 200.00 crores or more and having CRAR of 10% and above belonging to the States which have signed MOU with the Reserve Bank of India would be eligible to open and maintain CSGL accounts.
3. The eligibility criteria and operational guidelines have been notified in the Gazette of India Extraordinary dated 2nd December 2009 (copy enclosed).
4. Please acknowledge receipt of this circular to our Regional Office concerned.
(A. K. Khound)
Chief General Manager
Encl: As above