The Reserve Bank of India (RBI) has decided to phase out the Incremental Cash Reserve Ratio (I-CRR), which was implemented to absorb excess liquidity caused by the withdrawal of Rs 2,000 notes. The I-CRR required banks to maintain a 10% reserve on the increase in their net demand and time liabilities. The RBI will release 25% of the I-CRR on September 11, another 25% on September 23, and the rest on October 7.
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RBI decides to withdraw incremental CRR in phased manner
The Reserve Bank of India (RBI) has decided to phase out the Incremental Cash Reserve Ratio (I-CRR), which was implemented to absorb excess liquidity caused by the withdrawal of Rs 2,000 notes. The I-CRR required banks to maintain a 10% reserve on the increase in their net demand and time liabilities. The RBI will release 25% of the I-CRR on September 11, another 25% on September 23, and the rest on October 7.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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