Reserve Bank of India reduces Cash Reserve Ratio - ربی - Reserve Bank of India
IST,
Reserve Bank of India reduces Cash Reserve Ratio
After a review of current liquidity position and developments in the financial markets, the Reserve Bank of India today announces the following measure :
A reduction in the Cash Reserve Ratio (CRR) by half a percentage point from its present level of 8.0 per cent effective from fortnight beginning May 19, 2001. This measure will release resources of scheduled commercial banks to the extent of about Rs.4,500 crore.
Detailed operating instructions/directives are being issued separately.
Alpana Killawala
General Manager
Press Release : 2000-2001/1548
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