The 5th June notification of RBI which was resented by Nafscob as reported in these columns has attracted attention of Maharashtra Cooperation Minister Harshwardhan Patil.
The Minister had a meeting with the chairman and managing directors (CMDs) of the 31 district cooperative banks at the Sahyadri guest house on Tuesday.
It was decided that the state would urge Union finance minister Arun Jaitley to withdraw or stay a notification by the Reserve Bank of India (RBI) which may prove detrimental to Maharashtra’s cooperative sector.
It is feared that the notification will have an adverse impact on liquidity of the DC banks
Speaking to the media, Mr Patil said, “We have decided to meet Mr Jaitley very soon. It is mandatory for the apex bank (Maharashtra State Cooperative Bank) to maintain a statutory liquidity ratio (SLR) up to 22.5 per cent. The RBI has specified that the apex bank will invest the SLR amount in government securities.”
