RBI raises daily cash reserve requirement to 99%
RBI increased the minimum daily cash reserve requirement for banks to 99% from 90%, effective from the fortnight ending 31 October, while keeping the overall CRR at 3%.
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RBI raises daily CRR maintenance requirement to 99%
The Reserve Bank of India increased the minimum daily cash reserve ratio (CRR) maintenance requirement to 99%, effective from the fortnight beginning October 16.