The Reserve Bank of India’s decision to reduce the SLR for all state cooperative banks has not gone down well with the Maharashtra government.
State cooperation minister Harshavardhan Patil on Friday said the government has shot off a letter to RBI demanding either withdrawal, scrapping or a stay on the notification.
He said the state government will urge Union finance minister Arun Jaitley to withdraw this notification.
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As per the notification, it is mandatory for the apex bank (Maharashtra State Cooperative Bank) to maintain a statutory liquidity ratio (SLR) of up to 22.5%.
