CRR Cut for StCBs/RRBs: 25 bps Reduction

RBI/2012-13/272 RPCD.CO.RCB.RRB.BC.No.39/03.05.33/2012-13 October 30, 2012 All Scheduled State Co-operative Banks / Regional Rural Banks Dear Sir, Section 42(1) of the Reserve Bank of India Act, 1934 - Maintenance of CRR Please refer to our Circular RPCD.CO.RCB.RRB.BC.No.28/07.02.01/2012-13 dated September 18, 2012 , on the captioned subject. 2. As set out in the Reserve Bank’s Press Release 2012-2013/713 dated October 30, 2012 , it has been decided to reduce the Cash Reserve Ratio (CRR) of Scheduled State Co-operative Banks / Regional Rural Banks, by 25 basis points, from 4.50 per cent to 4.25 per cent, of their Net Demand and Time Liabilities (NDTL) with effect from the fortnight beginning November 3, 2012. 3. A copy of the relative notification RPCD.CO.RCB.RRB.BC.No.38/ 03.05.33/2012-13 dated October 30, 2012, is enclosed . 4. Please acknowledge receipt to our Regional Office concerned. Yours faithfully, (C.D.Srinivasan) Chief General Manager Encl: one RPCD.CO.RCB.RRB.BC.No. 38 /03.05.33/2012-13 October 30, 2012 NOTIFICATION 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 earlier notification RPCD.CO.RCB.RRB.BC.No.27/07.02.01/2012-13 dated September 18, 2012 , the Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR) required to be maintained by every Scheduled State Co-operative Bank / Regional Rural Bank shall be 4.25 per cent of its net demand and time liabilities from the fortnight beginning November 3, 2012. (V.K.Sharma) Executive Director

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/272 · issued 30 Oct 2012. The plain-English explanation above is BankPulse’s own independent summary.

🖨 Print / Save as PDF 🔗 Copy link☆ Save for later

Topics: Co-operative Banks

Key dataSee the live numbers behind this topic: RBI Penalty Tracker, NPA / Asset-Quality Tracker — updated from official RBI data.

Key termsPlain-English definitions of terms in this circular — see the full Indian banking glossary. KYC / AML · Gross NPA (GNPA) · Deposit insurance (DICGC) · Scheduled Commercial Bank (SCB)