Section 81 in West Bengal Co-operative Societies Rules, 2011
81. Fluid resources or liquid cover.
(1) A credit society other than the Agricultural Credit Co-operatives and the co-operative banks coming within the purview of the Banking Regulation Act, 1949 (10 of 1949) shall keep a minimum liquid cover against deposits held by it according to the following scale :(i)forty per centof deposits at call or on current account and cash credit and overdrafts sanctioned but not drawn;(ii)twenty-five per centof the savings deposits;(iii)twenty-five per centof the fixed deposits maturing within the next three months;(iv)twelve and a half per centof fixed deposits maturing after next three months but within the next six months :Provided that subject to the provisions of the Banking Regulation Act, 1949 (10 of 1949) when the reserve fund of a society is invested in a co-operative bank and cannot be drawn except with the permission of the General Body, no fluid resources need be maintained by the bank concerned against such investment.Explanation."Liquid cover" means any asset which can be converted into ready cash at once and which are maintained in one or more of the following forms :(i)cash in hand or with Central and State Co-operative Bank or with such banks as.the General Body may approve,(ii)Post office savings bank account,(iii)Government securities including National Savings Certificate or National Plan Certificate or Kisan Vikas Patra or in other approved investment by the Reserve Bank of India in case of societies controlled under the Banking Regulation Act, 1949 (10 of 1949) as the case may be, and(iv)Other investments as may be approved by the Board.(2)The extent to which the assets in the above forms shall be utilized for the pUrpose of calculation of fluid resources shall be as follows :(i)ninety per cent of the market value of government securities including National Savings Certificate or National Plan Certificate or Kisan Bikash Patra;(ii)Cent per centof cash in hand, balance with banks and Post office Savings Bank;(iii)Eighty per centof the market value of the debentures of agricultural and rural development banks and also of other trustee securities and(iv)Eighty per centof the fixed deposits with other banks. (3) Under special circumstances the board may, decrease the proportion of the liquid cover as mentioned in sub-rule (1).
