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in Economy

RBI decides to withdraw incremental CRR by Oct 7 in phased manner

by Editor September 8, 2023, 2:54 pm 1.4k Views

The Reserve Bank of India (RBI) on Friday said it would discontinue the incremental cash reserve ratio (I-CRR) requirement imposed on banks and return the impounded funds in phases ahead of the festival season when the demand for cash rises.

The bank will disburse 25 per cent of the total I-CRR funds impounded on September 29, another 25 per cent on September 23, and the remaining on October 7. It was estimated that…

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