Notification on section 42(1A)-Requirement for maintaining additional CRR (dated 10/08/2023) – RBI
View Pdf– Notification on section 42(1A)-Requirement for maintaining additional CRR (dated 10/08/2023) – RBI.
- It has been decided to issue directive under section 42(1A) of Reserve Bank of India Act, 1934, all Scheduled Commercial Banks / Regional Rural Banks / all Scheduled Primary (Urban) Co-operative Banks / all Scheduled State Co-operative Banks are required to maintain with the Reserve Bank of India, effective from the fortnight beginning August 12, 2023, an incremental CRR (I-CRR) of 10 per cent on the increase in NDTL between May 19, 2023 and July 28, 2023. The I-CRR will be reviewed on September 8, 2023 or earlier. Please refer notification for more details.
