Explore Business Standard
Don’t miss the latest developments in business and finance.
RBI hikes cash reserve ratio for banks
New Delhi, Nov 28 (ANI): The Reserve Bank of India (RBI) on Monday hiked the cash reserve ratio (CRR) - the percentage of cash deposits that banks maintain with the central banking institution. Economic Affairs Secretary Shaktikanta Das said the move comes as part of the liquidity management strategy used by the RBI. "The increase in the CRR by the RBI is a part of the liquidity management strategy used by the RBI. It had become necessary due the the excessive liquidity in the system," he said.