RBI to discontinue incremental cash reserve ratio in a phased manner
The Reserve Bank of India (RBI) has announced that it will discontinue the incremental cash reserve ratio (I-CRR) in a phased manner in order to maintain system liquidity and ensure orderly money market functioning. The RBI will release 25% of the I-CRR on September 9 and September 23, with the entire I-CRR removed by October 7.
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