CRR reduced by 100 basis points

March 27, 2020 10:40

RBI governor Shaktikanta Das: India has locked down economic activity and financial markets are under severe stress. Finance is the lifeline of the economy, keeping it following is the paramount objective of the Reserve Bank of India at this point of time

It has been decided to reduce the Cash Reserve Ratio of all banks by 100 basis points to 3% of Net Demand and Time Liabilities with effect from the fortnight beginning March 28 for a period of 1 year.

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