India c bank revises CRR rules for deposits

INDIA - The Reserve Bank of India (RBI) has clarified that scheduled commercial banks, excluding regional rural banks, are exempt from the minimum cash reserve ratio (CRR) requirement of three percent on inter-bank term deposits/ term borrowing liabilities with maturities from 15 days up to one year.

Earlier all inter-bank liabilities with maturities of 15 days and more were exempt from the minimum CRR requirement.

The RBI said the change is effective from the two-weekly reporting period beginning

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