
RBI Boosts Minimum Daily CRR Maintenance to Curb Liquidity Surplus
The Reserve Bank of India (RBI) has increased the minimum daily maintenance of the Cash Reserve Ratio (CRR) for banks from 90% to 99%, effective October 16. This decision comes amidst a significant liquidity surplus in the banking system, driven by banks' mobilization of Foreign Currency Non-Resident (Banks) deposits totaling $133 billion between June 8 and August 31. The current liquidity surplus stands at approximately INR 3.88 trillion.2 sourcesSee all sources
