Reserve Bank of India (RBI) on Friday announced the discontinuation of the incremental cash reserve ratio (I-CRR) in a phased manner beginning September 9.
On August 10, the RBI asked banks to maintain an I-CRR of 10 per cent on the increase in their net demand and time liabilities (NDTL) between May 19, 2023 and July 28, 2023. The RBI said that it will review the I-CRR on September 8 or before.
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