Banks Must Meet 99% of Daily Cash Reserve Requirement From October 16
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RBI raised banks’ daily cash reserve maintenance requirement from 90% to 99%, effective October 16, increasing accountability for holding prescribed reserves while reducing surplus money available in the banking system.
RBI raised banks’ daily cash reserve maintenance requirement from 90% to 99%, effective October 16, increasing accountability for holding prescribed reserves while reducing surplus money available in the banking system.
Vocabulary
accountability▾
जवाबदेही / responsibility
- Banks need strong accountability.
- Audits improve financial accountability.
- Managers accepted accountability for errors.
- Accountability protects customers.
#RBI#CRR#banks#liquidity#October 16
Source:NDTV
