Cash Reserves of Non-Scheduled Banks: Under Section 18 of the Banking Regulation Act, the cash reserve need not be maintained with the Reserve Bank. It may be with the bank itself, or in a current account with the Reserve Bank or by way of net balance in current accounts or in one or more of these ways. The balance maintained should not be less than three per cent of the demand and time liabilities as on the last Friday of the second preceding fortnight. The bank has also to submit a return to the Reserve Bank before the twentieth day of every month showing the amount so held on alternate Fridays during the month, along with particulars of its demand and time liabilities in India on such Fridays.
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