RBI raises minimum daily CRR maintenance to 99%
The RBI increased the minimum daily cash reserve ratio (CRR) maintenance requirement for scheduled banks to 99% from 90%, effective from mid-October, to drain surplus liquidity.
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04:17:24 AM UTC
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RBI Raises Minimum CRR Maintenance Requirement to 99%
The Reserve Bank of India has increased the minimum daily cash reserve ratio maintenance requirement for scheduled banks to 99% from 90%, effective from mid-October. The step is intended to drain surplus liquidity from the banking system.