Stay updated with breaking news from Net Demand. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The central bank will review the I-CRR on September 8 or earlier with a view to returning the impounded funds to the banking system ahead of the festival season, Chief Economist at Kotak Mahindra Bank tells Moneycontrol.
Governor Shaktikanta Das said the MPC unanimously voted to leave the repo rate unchanged at 6.5 per cent this time.
RBI MPC meeting LIVE: Shaktikanta Das said that the incremental CRR for banks is a temporary measure and will be reviewed on September 8.
Das added that the prevailing CRR will remain unaffected. The current CRR in India is 4.5%.
For more such web stories click on the ET icon below