11 SEP,2023 | MEDC
RBI said that it would discontinue the incremental cash reserve ratio (I-CRR) requirement imposed on commercial banks, and would return the impounded funds in phases ahead of the festive season when the demand for cash in the economy rises. Out of the total I-CRR maintained, 25% will be disbursed on September 9, another 25% on September 23 and the remaining on October 7. Around a trillion-rupee worth of liquidity has been locked up in the system due to the I-CRR requirement. As far as the market is concerned, this move was largely expected. There was no immediate reaction as the key factor today is not liquidity, but what is happening in the US market and its impact. In any case, it is an important step towards simplifying the domestic financial system, and enhancing market liquidity.
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Interactive Meeting with Mr. Jaykumar Rawal Hon'ble Minister for Tourism & Employment Guarantee Scheme Govt. of Maharashtra