RBI/2006-07/66 UBD.BPD. (PCB). MC.No 8 /16.20.000/2006-07, DT. 12/07/2006

Master Circular on Investments by Primary (Urban) Co-operative Banks (Part - II)

PREVIOUS

Annexure I
Master Circular on Investments Certain clarifications on brokers’ limits

[Ref: Para 7.3]

Sr.No.	Issue raised	Response
1.	The year should be calendar year or financial year?	Since banks close their accounts at the end of March, it may be more convenient to follow the financial year. However, the banks may follow calendar year or any other period of 12 months provided, if it is consistently followed in future.
2.	Whether to arrive at the total transactions of the year, transactions entered into directly with counter-parties, i.e. where no brokers are involved would also be taken into account?	Not necessary. However, if there are any direct deals with the brokers as purchasers or sellers the same would have to be included in the total transactions to arrive at the limit of transactions to be done through an individual broker.
3.	Whether in case of ready forward deals both the legs of the deals i.e. purchase as well as sale will be included to arrive at the volume of total transactions?	Yes
4.	Whether central loan/state loan/treasury bills etc. purchased though direct subscriptions/auctions will be included in the volume of total transactions?	No, as brokers are not involved as intermediaries.
5.	It is possible that even though bank considers that a particular broker has touched the prescribed limit of 5%, he may come with an offer during the remaining period of the year which the bank may find to its advantage as compared to offers received from the other brokers who have not yet done business upto the prescribed limit.	If the offer received is more advantageous the limit for the broker may be exceeded and the reasons therefore recorded and approval of the competent authority/Board obtained post facto.
6.	Whether the transactions conducted on behalf of the clients would also be included in the total transactions of the year?	Yes, if they are conducted through the brokers.
7.	For a bank which rarely deals through brokers and consequently the volume of business is small maintaining the broker-wise limit of 5% may mean splitting the orders in small values amongst different brokers and there may also arise price differential.	There may be no need to split an order. If any deal causes, the particular broker's share to exceed 5% limit, our circular provides the necessary flexibility inasmuch as Board's post facto approval can be obtained.
8.	During the course of the year, it may not be possible to reasonably predict what will be the total quantum of transactions through brokers as a result of which there could be deviation in complying with the norm of 5%.	The bank may get post facto approval from the Board after explaining to it, the circumstances in which the limit was exceeded.
9.	Some of the small private sector banks have mentioned that where the volume of business particularly, the transactions done through brokers is small the observance of 5% limit may be difficult. A suggestion has, therefore, been made that the limit may be required to be observed if the business done through a broker, exceeds a cut-off point of say Rs.10 crore	As already observed the limit of 5% can be exceeded subject to reporting the transactions to the competent authority post facto. Hence, no change in instructions are considered necessary.
10.	Whether the limit is to be observed with reference to total transactions of the previous year as the total transactions of the current year would be known only at the end of the year?	The limit has to be observed with reference to the year under review. While operating the limit, the bank should be in view the expected turnover of the current year which may be based on turnover of the previous year and anticipated rise or fall in the volume of business in the current year.

Annexure II

Master Circular on Investments - Certain Definitions

[ Vide para 12.3.1(iii) ]

1. With a view to imparting clarity and to ensure that there is no divergence in the implementation of the guidelines, some of the terms used in the guidelines are defined below.

2. A security will be treated as rated if it is subjected to a detailed rating exercise by an external rating agency in India which is registered with SEBI and is carrying a current or valid rating. The rating relied upon will be deemed to be current or valid if:

i) the credit rating letter relied upon is not more than one month old on the date of opening of the issue, and

ii) the rating rationale from the rating agency is not more than one year old on the date of opening of the issue, and

iii) the rating letter and the rating rationale is a part of the offer document.

iv) In the case of secondary market acquisition, the credit rating of the issue should be in force and confirmed from the monthly bulletin published by the respective rating agency.

v) Securities which do not have a current or valid rating by an external rating agency would be deemed as unrated securities.

3. The investment grade ratings awarded by each of the external rating agencies operating in India would be identified by the IBA/ FIMMDA. These would also be reviewed by IBA/ FIMMDA at least once a year.

4. A ‘listed’ debt security is a security which is listed in a stock exchange. If not so, it is an ‘unlisted’ debt security.

5. A non performing investment (NPI), similar to a non performing advance (NPA), is one where :

a. Interest/ instalment (including maturity proceeds) is due and remains unpaid for more than 180 days. The delinquency period has become 90 days with effect from 31st March 2004.

b. if any credit facility availed by the issuer is NPA in the books of the bank, investment in any of the securities issued by the same issuer would also be treated as NPI.

Annexure III
Master Circular on Investments

List of All India Financial Institutions

[Vide para 12.3.4.1 (ii)]

1. IFCI Ltd.
2. Industrial Investment Bank of India Ltd.
3. Tourism Finance Corporation of India Ltd.
4. Risk Capital and Technology Finance Corporation Ltd.
5. Technology Development and Information Company of India Ltd.
6. Power Finance Corporation Ltd.
7. National Housing Bank.
8. Small Industries Development Bank of India
9. Rural Electrification Corporation Ltd.
10. Indian Railways Finance Corporation Ltd.
11. National Bank for Agriculture and Rural Development.
12. EXIM Bank of India.
13. Infrastructure Development Finance Co. Ltd.
14. Housing & Urban Development Corp. Ltd

Anexure IV
Master Circular on Investments Disclosures Requirements

[ Vide para 12.9 ]

i) Issuer composition of Non SLR investments

(Rs. in crore)

No. 1.	Issuer 2.	Amount 3.	Extent of ‘below investment grade’ Securities 4.	Extent of ‘unrated’ securities 5.	Extent of ‘unlisted’ securities 6.
1	PSUs
2	FIs
3	Nationalised Banks
4	Others
5	Provision held towards depreciation		X X X	X X X	X X X
	Total *

NOTE: 1.* Total under column 3 should tally with the total of investments in Schedule 8 to the balance sheet:

2. Amounts reported under columns 4, 5, and 6 above may not be mutually exclusive.

ii) Non performing Non-SLR investments

Particulars	Amount(Rs. Crore)
Opening balance
Additions during the year since 1st April
Reductions during the above period
Closing balance
Total provisions held

Annexure V
Master Circular on Investments Special concessions to UCBs during the year 2004-05

[ Vide para 16.1.7 ]

UCBs were permitted, as a one-time measure, to exceed the limit of 25% of total investments under HTM category and to shift SLR securities to the HTM category one more time (cf para 15.5.1) during the accounting year 2004-05 vide RBI circular dated September 2, 2004) provided the excess investments are in SLR securities and the total SLR securities held in the HTM category is not more than 25 per cent of their NDTL as on the last Friday of the second preceding fortnight. Banks were also advised that such shifting should be done at the acquisition cost/book value/ market value on the date of transfer, whichever is the least, and the depreciation, if any, on such transfer should be fully provided for. Further, the Non-SLR investments in bonds of PSUs and shares (as permitted by RBI) classified under HTM category may remain in that category and no fresh non-SLR securities are permitted to be included in the HTM category.

In view of the representations made by Federations of UCBs expressing difficulties in meeting with the provisioning requirements consequent to shifting of securities to HTM category, the issue was reexamined and decided, as a special case, to relax the requirements, as under:

1. Scheduled UCBs:

Scheduled UCBs were allowed to crystallize the provisioning requirement arising on account of shifting of securities from HFT/AFS categories to the HTM category consequent to the issue of our guidelines dated 02.09.2004 and amortize the same over a maximum period of five years commencing from the accounting year ending 31.03.2005, with a minimum of 20 % of such amount, each year.

II. Non Scheduled UCBs:

Shifting of securities from HFT/AFS categories to the HTM category by Non-Scheduled UCBs consequent to the issue of the circular dated 02.09.2004 may be done at book value, subject to the following conditions:

(a) In case the book value is higher than the face value, the difference between the book value and the face value i.e., the premium may be amortized in equal installment over the period remaining to maturity. If the security was obtained at a discount to face value, the difference should be booked as profit only at the time of maturity of the security.

(b) The securities transferred under this special dispensation should be kept separately under the HTM category, and should not be transferred back to the AFS/HFT category in future as per the extant instructions on transfer of securities from HTM category.

(c) In normal course, such securities under HTM category should not be sold in the market and are to be redeemed on maturity only. However, in case of exceptional circumstances if such securities are to be sold, profit/loss on sale of investments in this category should be first taken to the Profit & Loss Account and thereafter, the profit if any, should be appropriated to the ‘Capital Reserve ’.

(d) The banks were advised to build up sufficient provisions and adhere to extant investment norms for UCBs by 31.03.2009 without any relaxations.

It may be noted that the above relaxation is s a one time measure for the accounting year ended March 31, 2005 and for all fresh investments made on or after 01.04.2005, extant guidelines should be followed. The banks are not allowed to write back provisions already made on investments as on 31.03.2004.

Annexure VI

Master Circular on Investments Special concessions to UCBs during the year 2005-06

[ Vide para 16.1.8 ]

The primary (urban) cooperative banks are allowed to shift securities from AFS/HFT to HTM category and vice versa once at the beginning of the year. It was represented by the Federations of UCBs that the banks were facing difficulties in meeting the provisioning requirements as a result of a further fall in the prices of securities.

2. Taking into consideration the representations received further relaxations were allowed as under for the year ended March 31, 2006:

(a) as a special case, the banks may shift securities from and to HTM once more on or before March 31, 2006.

(b) where the market value is lower than the face value, the provision required would be the difference between book value and face value. Further, the provisioning may be made over the remaining period to maturity instead of five years. It may, however be noted that, if the security was acquired at a discount to face value i.e. the book value is lower than the face value, the difference should be booked as profit only at the time of maturity of the security as hitherto

(c) The revised valuation norms outlined in para (b) above will apply only to transfers to HTM made during the financial year 2005-06

(d) In case as a result of valuation as above the provision already held by the bank is rendered surplus, the same should not be taken to the Profit and Loss account.

Appendix
Master Circular on Investments by Primary (urban) Co-op. Banks

A. List of Circulars consolidated in the Master Circular

No.	Circular No.	Date	Subject
1.	UBD BPD No: 41/ 16.20.000/2005-06	29-03-2006	Investment portfolio of UCBs - valuation
2.	UBD BPD No: 31/ 13.01.000/2005-06	17-02-2006	Investment in Government Securities
3.	UBD BPD No: 41/ 16.20.000/2004-05	28-03-2005	Investment portfolio of UCBs - valuation
4.	UBD BPD No: 16/ 16.20.000/2004-05	02-09-2004	Investments-classification and valuation
5.	UBD BPD No: 49/ 09.80.00/2004-05	20-06-2005	Ready Forward Transactions
6.	UBD BPD No: 50/ 09.80.00/2004-05	20-06-2005	Govt Sec- T + 1 settlement
7.	UBD BPD No: 51/ 09.80.00/2004-05	20-06-2005	Settlement of securities on primary issues
8.	UBD.BPD.No.37/12.05.01/2004-05	26.02.2005	Investment portfolio of banks-Reporting system
9.	UBD.BPD.SUB.CIR.5/09.80.00/2003-04	28-04- 2004	Transactions in Government Securities (DVP III)
10.	UBD.BPD.PCB.Cir.45/16.20.00/2003-04	15-04- 2004	Investment in non-SLR debt securities by UCBs
11.	UBD.BPD.PCB.Cir.44/09.29.00/2003-04	12-04- 2004	Sale of Govt. Securities allo UBD BPD No: 41/ 16.20.000/2004-05cated during the auctions for primary issues on the same day.
12.	UBD.BPD.PCB.Cir.42/09.11.00/2003-04	1-04- 2004	Maintenance of CSGL Accounts
13.	UBD.BPD.PCB.Cir.35/13.05.00/2003-04	27-02-2004	Placement of deposits by NSCBs with strong sch UCBs
14.	UBD.BPD.PCB.Cir.34/13.05.00/2003-04	11-02-2004	Maximum limit on advances-limits on exposure to individual/group borrowers-Computation of capital funds
15.	UBD.BPD.PCB.Cir.33/09.11.00/2003-04	11-02-2004	Maintenance of CSGL Accounts
16.	UBD.BPD.PCB.FIR.26/16.20.00/2003-04	2-12-2004	Investment in shares of ICICI Bank Ltd.
17.	UBD.BPD.PCB.Cir.12/09.29.00/2003-04	04-09-2003	Investment Portfolio of UCBs-Guidelines for Investment Fluctuation Reserve
18.	UBD.BPD.Cir.No.11/09.29.00/2003-04	02-09-2003	Investment Portfolio of UCBs-Classification & Valuation of investments
19.	UBD.BPD.PCB.Cir.8/9.2900/2003-04	16-08-2003	Trading of Government Securities in Stock Exchanges
20.	UBD.BPD.Cir.No.1/09.11.00/2003-04	08-07-2003	Settlement in respect of Government Securities Transaction-Compulsory settlement through CCIL
21.	UBD.BPD.PCB.Cir.No.2/09.80.00/2003-04	08-07-2003	Scheme for Non-Competitive Bidding Facility in the Auction of Government of India dated securities
22.	UBD.PCB.56/09.29.00/2003-04	02-07-2003	Investment Portfolio of Banks-Transactions in Securities
23.	UBD.BPD.PCB.Cir.No.46/16.20.00/2002-03	17-05-2003	Placement of deposits by non-scheduled UCBs with Scheduled UCBs
24.	UBD.BPD.PCB.No.44/09.80.00/2002-03	12-05-2003	Guidelines for uniform accounting for Repo/Reverse Repo transactions
25.	UBD.BPD.PCB.Cir.No.39/09.29.00/2002-03	13.03.2003	Trading of Government Securities on Stock Exchange
26.	UBD.BP.No.35/16.26.00/2002-03	18-02-2003	Prices of Government Securities in the Secondary Market
27.	UBD.BPD.SPCB.Cir.No.9/09.29.00/2002-03	27-01-2003	Reconciliation Procedure for Government Loans
28.	UBD.POT.PCB.Cir.No.06/09.29.00/2002-03	06-08-2002	Investment Portfolio of UCBs-Transactions in Government Securities
29.	UBD.POT.PCB.Cir.No.5/09.29.00/2002-03	22-07-2002	Investment portfolio of banks-transaction in securities
30.	UBD.POT.No.49/09.80.00/2001-02	17-06-2002	Ready Forward Contracts
31.	UBD.CO.POT.PCB.Cir.No.48/09.29.00/2001-02	11-06-2002	Certification of holding of securities in banks’ investment portfolio
32.	UBD.BR.No.47/16.26.00/2001-02	07-06-2002	Investments in Government and other approved securities by Urban Co-op Banks
33.	UBD.PCB.Cir.No.46/09.29.00/2001-02	06-06-2002	Investment Portfolio of Banks-Transaction in Securities
34.	UBD.Plan.SCB.Cir.No.10/09.29.00/2001-02	26-04-2002	Investment Portfolio of Urban Banks-Transactions in Government Securities
35.	UBD.Plan.PCB.Cir.No.41/09.29. 00/2001-02	20-04-2002	Investment Portfolio of Banks-Transactions in Securities
36.	UBD.BR.Cir.No.19/16.26.00/2001-02	22-10-2001	B,R.Act, 1949 (AACS) Section 24-Investment in Government and other approved securities
37.	UBD.No.BR.6/16.26.00/2000-01	09-08-2001	B.R. Act, 1949 (AACS) Section 24-Investment in Government and other approved securities
38.	UBD.No.CO.BSD.I.PCB.44/12.05.05/2000-2001	23-04-2001	Guidelines for Classification and Valuation of Investments by Banks
39.	UBD.No.BR.Cir/42/16.26.00/2000-01	19-04-2001	Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) - Section 24 - Investment in Government and other approved Securities by Urban Co-operative Banks (UCBS)
40.	UBD.No.43/16.20.00/2000-01	19-04-2001	Investment of Funds by Urban Co-operative Banks as deposits with other institutions and other Urban Co-operative Banks
41.	UBD.No.POT.Cir.PCB.39/09.29.00/ 2000	18-04-2001	Sale of Government Securities Allotted in the Auctions of Primary Issues
42.	UBD.No.Plan.PCB.Cir/22/09.29.00/ 2000-2001	30-12-2000	Investment Portfolio of banks - Transactions in securities - Role of brokers
43.	UBD.Plan.PCB.Cir/26/09.80.00/99-2000	28-03-2000	Ready Forward Contracts
44.	UBD.Plan.18/09.80.00/1999-2000	30-12-1999	Banks' own investment in State Government Loans -Payment of brokerage commission
45.	UBD.No.Plan.PCB.04/09.80.00/99-2000	25-08-1999	Ready Forward Transactions
46.	Ref. UBD No.BR. 26/18.20.00/98-99	07-04-1999	Investment of funds by primary (urban) co-operative banks In public sector undertakings/ companies
47.	UBD.No.Plan.PCB.DIR.3/09.80.00/98-99	17-08-1998	Reverse Ready forward transactions
48.	UBD.No.BR.1/16.20.00/98-99	10-07-1998	Investment by urban co-op. banks-Valuation of Investments-US-64 units
49.	UBD No.61/16.20.00/97-98	04-06-1998	Investment of Investment by Urban Cooperative Banks - Valuation of Investment - US- 64 Units funds by primary (urban) co-operative banks in public sector undertakings/companies
50.	UBD.No.Pl.an.PCB/Cir.56/09.60.00/ 97-98	13-05-1998	Investment in Certificates of Deposit (CDs) by primary (urban) co-operative banks
51.	UBD.No.Plan.SUB.20/09.81.00/97-98	19-02-1998	Retailing of Government Securities
52.	UBD.No.BP.37/16.20.00/97-98	29-01-1998	Investment by Urban Co-operative Banks - Valuation of Investments
53.	UBD.No.BSD.I (PCB) 22/ 12. 05. 00 / 97-98	26-11-1997	Investment by Urban Co-operative Banks Valuation of Investments
54.	UBD.No.Plan.SUB.No.17/09.83.00/97-98	19-11-1997	Statistical data relating to investments in Money Market Instruments/Government Securities
55.	UBD.No.Plan.PCB/Cir.21/09.60.00/97-98	11-11-1997	Investment in certificates of deposit (CDs) by Urban Co-operative Banks
56.	UBD.No.Plan.PCB.Cir.19/09.29.00/97-98	10-11-1997	Investment Portfolio of banks-Transactions in securities-Role of brokers
57.	UBD.No.Plan.PCB.56/09.60.00/96-97	06-06-1997	Investment in Certificates of Deposit (CDs) by Urban Co-operative Banks
58.	UBD.No.DS.SUB.CIR.7/13.07.00/96-97	07-01-1997	Investment of Surplus Funds by primary co-operative Banks in Bills Rediscounting Scheme
59.	UBD.No.Plan.PCB.34/09.29.07/96-97	30-12-1996	Investment portfolio of banks Transactions in securities
60.	UBD.No.Plan.PCB.No.30/09.82.00/96-97	27-11-1996	Investment by Urban Co-operative Banks in the Units of Unit Trust of India (UTI)
61.	UBD.No.Plan.PCB.19/09.29.00/96-97	11-09-1996	Investment portfolio of banks - System for custody and control of unused B. R. Forms
62.	UBD.No.Plan.PCB.7/09.60.00/96-97	19-07-1996	Investment in certificates of deposit by Urban Co-operative Banks
63.	UBD.No.Plan/PCB/69/09.29.00/95-96	21-06-1996	Investment portfolio of banks - Transactions in securities
64.	UBD.No.BR.Cir.52/16.20.00/95-96	16-03-1996	Investment of funds by Urban Co-operative Banks in Public Sector Undertakings/Companies
65.	UBD.No.Plan.PCB.47/09.60.00/95-96	29-02-1996	Investment in Certificates of Deposit (CDs) by Urban Co-operative Banks
66.	UBD.No.BR.12/16.20.00/95-96	06-01-1996	Investment of funds by urban co-operative banks in bonds of public sector undertakings
67.	UBD.No.BR.Cir.33/16.26.00/95-96	03-01-1996	Banking Regulation Act, 1949 (As applicable to Co-operative Societies) Section 24-Investment in Government and other approved securities by primary co-operative banks
68.	UBD.No.Cir.63/16.26.00/94-95	16-06-1995	Banking Regulation Act, 1949 (As applicable to Co-operative Societies) Section 24-Investment in Government and other approved securities by primary co-operative banks
69.	UBD.No.BR.CIR.53/16.20.00/94-95	24-04-1995	Investment of funds by Urban Co-operative Banks in Public Sector Undertakings/Companies
70.	UBDNo.Plan.PCB.32/09.29.00/94-95	24-11-1994	Investment Portfolio of Banks - Transactions in Securities - Bank Receipts/Role of brokers
71.	UBD.No.Plan.PCB.29/09.80.00/94/95	09-11-1994	Ready Forward Transactions
72.	UBD.No.Plan.PCB.14/09.80.00/94-95	24-08-1994	Ready Forward Transactions
73.	UBD.BR.10/PCB(CIR)/16.20.00/9495	01-08-1994	Investment of funds by primary co-operative banks in public sector undertakings/companies
74.	UBD.BR.CIR.72/16.20.00/93-94	16-05-1994	Investment of funds by urban co-operative banks in public sector undertakings/companies
75.	UBD.No.PLAN (PCB).CIR.56/09.29.00/93-94	11-02-1994	Investment portfolio of banks - Transactions in Securities.
76.	UBD.No.Plan.51/09.29.00/93-94	20-01-1994	Investment portfolio of banks - Transactions in Securities - Bouncing of SGL transfer forms - Penalties to be imposed:
77.	UBD.No.3/09.29.00/93-94	02-08-1993	Investment port-folio of banks - Transactions in securities - Aggregate contract limit for individuals brokers-Clarifications
78.	UBD.No.Plan.74/UB.81-92/93	17-05-1993	Investment portfolio or banks - Transactions in securities
79.	UBD.No.Plan.13/UB.81/92-93	15-09-1992	Investments portfolio of banks Transactions in securities
80.	UBD.No.BR.1866/A.12(19)-87/88	13-06-1988	Investments of Funds by Urban Co-operative Banks as Deposits with Public Sector Undertakings/ Companies/Corporations/Co-operative Institutions
81.	UBD.No.DC.84 /R.1(B).87/88	13-02-1988	Bills Rediscounting Scheme - Rediscounting of Bills with Banks and Financial Institutions
82.	UBD.No.BR.1455/A12(24)-85/86	31-05-1986	Banking Regulation Act, 1949 (as applicable to co-operative societies) - Section 24 - Investment in Units issued by the Unit Trust of India
83.	UBD.BR.871/A.12 (24)-84/85	10-05-1985	Banking Regulation Act, 1949 (as applicable to co-operative societies) - Section 24 - Investment made under national deposit scheme
84.	UBD.BR.498/A.12 (24) -84/85	08-01-1985	Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) Section 24 - Investment in Government and Other Trustee Securities by primary co-operative banks
85.	UBD.NO.DC.597/R.41-84/85	31-10-1984	7% Capital Investment Bonds
86.	UBD.P&O.1121/UB. -63-83/84	01-06-1984	Bank's own investment in central state government loans-payment of brokerage
87.	ACD.ID (DC) 1799/R.36/79/80	10-01-1980	Subscription/purchase of 7 year national rural development bonds
88.	ACD.ID. (DC) 1800/R.36-79/80	10-01-1980	Directive relating to subscription/purchase of 7 year national rural development bonds
89.	ACD.BR.446/A.12 (19)/72-3	01-11-1972	Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) Section 19
90.	ACD.BR.463/A.12 (19)/70-7	09-11-1970	Banking Regulation Act, 1949 (As Applicable to Co-operative Societies): Section 19
91.	ACD.BR.1/A.12 (19)/68-9	01-07-1968	Section 19 of the Banking Regulation act 1949 (as applicable to co-operative societies): Restriction on holding shares in other co-operative societies
92.	ACD.BR.3/A.12 (19)/68-9	01-07-1968	Section 19 of the Banking Regulation Act, 1949 (as applicable to co-operative societies): Restriction on holding shares in other co-operative societies
93.	ACD.BR.903/A.12 (19)/67-8	22-12-1967	Banking Regulation Act, 1949 (as applicable to Co-operative Societies): Section 19: Restriction on holding of shares in other co-operative societies
94.	ACD.BR.388/A.11 (19) 65-6	01-03-1966	Section 19 of the Banking Regulation Act: Restriction on holding shares in other co-operative societies

B. List of Other Circulars from which instructions relating to Investments have also been consolidated in the Master Circular

No.	Circular No.	Date	Subject
1.	UBD.No.POT.PCB.Cir.No.45/09.116.00/2000-01	25-04-2001	Application of Capital Adequacy Norms to Urban (Primary) Co-operative Banks
2.	UBD.CO.No.BSD-I.PCB(Cir)34/ 12.05.05/99-2000	24-05-2000	Income Recognition, Asset Classification, Provisioning and Valuation of Investments
3.	UBD.No.BSD.PCB./25/12.05.05/ 99-2000	28-02-2000	Income Recognition, Asset Classification, Provisioning and other related matters
4.	UBD.No.I&L(PCBs)42/12.05.00/ 96-97	20-03-1997	Prudential norms - Income Recognition, Assets Classification, Provisioning and other related matters -
5.	UBD.No.I&L(PCBs)68/12.05.00/ 95-96	10-06-1996	Income Recognition, assets classification, provisioning and other related matters Clarifications
6.	UBD.No.I&L(PCB)61/12.05.00/94-95	06-06-1995	Income recognition, asset classification, provisioning and other related matters Valuation of investment and others
7.	UBD.No.I&L86/12.05.00/93-94	28-06-1994	Income recognition, assets classification, provisioning and other related matters
8.	UBD.21/12:15:00/93-94	21-09-1993	Committee to enquire into various aspects relating to frauds and malpractices in banks primary (urban) co-operative banks
9.	UBD.NO.I&L.38/J.1-92/93	09-02-1993	Income recognition, assets classification, provisioning and other related matters
10.	UBD.BR.16/A.6-84/85	09-07-1984	Banking Law (Amendment) Act, 1983
11.	ACD.Plan.358/UB.1-78/9	20-04-1979	Report on the committee on urban co-operative banks
12.	ACD.BR.184/A.12(19)-78/9	23-08-1978	The Banking Regulation Act, 1949 (as applicable to co-operative societies) : Section 10 : Restriction on holding shares in other co-operative societies
13.	ACD.BR.760/A.1/68-9	23-01-1969	The Banking Laws (Amendment) Act, 1968
14.	ACD.BR. 464/A. 12(24)/68-9	12-11-1968	Section 24 of the Banking Regulation Act 1949 (As Applicable to Co-operative Societies): Maintenance of Percentage of Assets

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