Scheduled State cooperative banks were required to maintain CRR at rates as announced by RBI periodically under section 42 of the RBI Act, 1934. Pursuant to the amendments to the B.R. Act, 1949 (AACS), CRR and SLR for all cooperative banks were brought on par with scheduled commercial banks from the fortnight beginning July 12, 2014. 10.
RBI is now vested with powers to prescribe the form and manner of liquid assets to be maintained for SLR purpose.