RBI Directs all SCBs/RRBs/UCBs/State Co-operative Banks to Maintain an Additional Cash Reserve Ratio of 10%
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- Last Updated on 14 August, 2023
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Circular no. RBI/2023-24/52 DOR.RET.REC.29/12.01.001/2023-24; Dated: 10.08.2023
RBI has directed all Scheduled Commercial Banks, Regional Rural Banks, Scheduled Primary (Urban) Co-operative Banks and all Scheduled State Co-operative Banks to maintain an incremental Cash Reserve Ratio (I-CRR) of 10% on the increase in Net Demand and Time Liabilities (NDTL) between May 19, 2023 and July 28, 2023. This directive is pursuant to section 42(1A) of the RBI Act, 1934 and will come into effect from the fortnight beginning August 12, 2023.
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