September 9, 2023 9:18 AM
RBI to discontinue Incremental Cash Reserve Ratio, put in place to absorb surplus liquidity after withdrawal of 2,000 rupees notes, in a phased manner
The Reserve Bank of India (RBI) decided to discontinue the Incremental Cash Reserve Ratio (I-CRR), which was put in place to absorb surplus liquidity following the withdrawal of 2,000 rupees currency notes, in a phased manner beginning today. On August 10, the RBI mandated banks to maintain an in...