Section 80(1) in Tamil Nadu Co-operative Societies Rules, 1988
(1)A society, other than a society to which the Banking Regulations Act, 1949 (Central Act X of 1949) applies accepting deposits shall maintain fluid resources according to the following standard and form:-A. Standard-(i)twenty-five per cent of the amount held in fixed deposits falling due for repayment within the next thirty days;(ii)twenty-five per cent of the amount held in savings deposits;(iii)twenty-five per cent of the amount held in current deposits; and(iv)the entire amount of matured deposits (fixed, recurring and provident fund deposits) pending payment:Provided that in respect of fixed deposits or matured deposits, which have been pledged by the depositors for loans obtained from a society, it is enough if the society maintains fluid resources to the extent of the unencumbered portion of such deposits, that is, for an amount equal to the amount of the deposits less the amount of loans outstanding.B. Form-(i)cash balance on hand;(ii)moneys invested in savings or current deposits in the financing bank;(iii)moneys invested in savings or current deposits in any other cooperative bank and any banking company as are readily withdrawable without notice;(iv)eighty per cent of the fixed deposits with the financing bank, any other co-operative bank, and any banking company;(v)ninety per cent of the market value of the State Land Development Bank's debentures and other trustee securities such as municipal loans, etc. including the shares of the Industrial Finance Corporation and the entire purchase value of the post office cash certificates; and(vi)undrawn portion of the cash credit with the financing bank, any other co-operative bank and any banking company.
