RBI on Thursday reduced the statutory liquidity ratio (SLR) requirements of urban cooperative banks by 250 basis points.
RBI on Thursday reduced the statutory liquidity ratio (SLR) requirements of urban cooperative banks by 250 basis points (bps) of their total demand and time liabilities to 22.5%.
However, the central bank decided to increase the cash reserve ratio (CRR) requirement for UCBs by 100 bps to 4% effective from July 12, the RBI said in a notification on its website.
The RBI also said the balances kept with state cooperative banks and district central cooperative banks, as also term deposits with public sector banks, will not eligible of being reckoned for SLR purpose from April 1 2015.