This will be applicable on the increase in net demand and time liabilities (NDTL) of banks between May 19 and July 28, 2023. RBI has taken this temporary measure to drain excess liquidity from the banking system. RBI had earlier withdrawn ₹2,000 banknotes from circulation and gave people the option to either deposit or exchange them by September 30, 2023. Let's delve into what ICRR entails, its significance, and how it aids liquidity management.
WHAT IS CRR?
▪ Before understanding ICRR, it is important to understand what is the cash reserve ratio (CRR).
▪ You would have come across the term when RBI comes up with announcements in its bimonthly monetary policy.
Denne historien er fra September 2023-utgaven av Outlook Money.
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Denne historien er fra September 2023-utgaven av Outlook Money.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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