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RBI to discontinue incremental cash reserve ratio in a phased manner
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RBI) on Friday announced that it will discontinue the incremental cash reserve ratio (I-CRR) in a phased manner. “On a review, it has been decided to discontinue the I-CRR in a phased manner," RBI said in a release.
Based on an assessment of current and evolving liquidity conditions, it has been decided that the amounts impounded under the I-CRR would be released in stages so that system liquidity is not subjected to sudden shocks and money markets function in an orderly manner, it added. (This is a developing story)
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