With a deed to managing the excess liquidity inwards the organisation banking regulator Reserve Bank of Bharat announced on Sat that it would absorb a part of this extra cash yesteryear applying an incremental cash reserve ratio (CRR) every bit a purely temporary measure.
The CRR remains unchanged at iv pct of outstanding cyberspace ask as well as fourth dimension liabilities (NDTL).
On the increase inwards NDTL betwixt September 16, 2016 as well as Nov 11, 2016, scheduled banks shall keep an incremental CRR of 100 percent, effective the fortnight starting fourth dimension Nov 26, 2016, read the RBI note.
This is intended to absorb a travel of the surplus liquidity arising from the render of specified banking notes (SBN) to the banking system.
This deed shall hold upward reviewed on Dec 9, 2016 or fifty-fifty earlier, added the note.
The Reserve Bank has likewise separately revived the Guarantee Scheme to enable deposit of SBN balances at the Reserve Bank or at currency chests and get immediate value. This mensurate should likewise facilitate banks’ compliance amongst the incremental CRR.
Operational details are gear upward out inwards a round down issued separately.
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