RBI raises CRR for non-scheduled urban co-operative banks

The Reserve Bank of India increased the cash reserve ratio (CRR) for non-scheduled urban co-operative banks (UCBs) by 100 basis points to 4%. One basis point is equal to one hundredth of a percentage.  This increase will come into effect from July 12. The move will bring nonscheduled urban co-operative banks on par with scheduled primary urban co-operative banks.


Disclaimer

The information in this private circulation is not legal advice and should not be treated as such. The information is taken from public domain and is purely for private and non- commercial purposes. We do not represent that the information is correct, accurate, complete or non- misleading.

This disclaimer will be governed by and construed in accordance with laws of India, and any disputes relating to this disclaimer will be subject to the exclusive jurisdiction of the courts of the Republic of India.

Leave your comment

*

code