{"id":109442,"date":"2023-09-08T15:58:43","date_gmt":"2023-09-08T10:28:43","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=109442"},"modified":"2023-09-08T15:58:49","modified_gmt":"2023-09-08T10:28:49","slug":"rbi-decides-to-discontinue-the-incremental-crr-in-a-phased-manner","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/rbi-decides-to-discontinue-the-incremental-crr-in-a-phased-manner\/","title":{"rendered":"RBI decides to discontinue the incremental CRR in a phased manner"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2031034611\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The Incremental Cash Reserve Ratio (I-CRR), which was implemented to absorb excess liquidity following the withdrawal of Rs 2,000 currency notes, would be phased out starting on Saturday, the Reserve Bank announced on Friday. <\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-713523929\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The RBI ordered banks to maintain a 10% incremental cash reserve ratio (I-CRR) on the growth in their net demand and time liabilities (NDTL) between May 19, 2023 and July 28, 2023. This requirement was issued on August 10.<\/p><p>Including the return of Rs 2,000 notes to the banking system, the measure was intended to absorb the surplus liquidity generated by various factors.<\/p><p>&#8220;On a review, it has been decided to discontinue the I-CRR in a phased manner,&#8221; the central bank said in a statement.<\/p><div class=\"trade-content_5\" id=\"trade-1084706985\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>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.<\/p><p>25 per cent of the amount of I-CRR maintained by banks will be released on Saturday and another 25 per cent on September 23. The rest will be released on October 7. The RBI said.<\/p><p>While announcing the I-CRR, RBI Governor Shaktikanta Das had indicated that the provision was a temporary measure for managing the liquidity overhang.<\/p><p>The RBI had announced that the I-CRR would be reviewed on September 8, 2023, or earlier with a view to returning the impounded funds to the banking system ahead of the festival season.<\/p><p>The I-CRR was designed to handle the extra cash after the elimination of the Rs 2,000 notes, which caused the liquidity in the banks to drastically increase.<\/p><p>As much as 93 per cent of Rs 2000 currency notes that were in circulation on May 19 &#8212; the day when the currency was withdrawn from circulation &#8212; have been returned to banks.<\/p><div class=\"trade-content-10\" id=\"trade-3789410243\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Up to August 31, 2023, the total amount of Rs 2000 banknotes that have been recovered from circulation is Rs 3.32 lakh crore.<\/p><div class=\"trade-after-content\" id=\"trade-722778755\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The Incremental Cash Reserve Ratio (I-CRR), which was implemented to absorb excess liquidity following the withdrawal of Rs 2,000 currency notes, would be phased out starting on Saturday, the Reserve Bank announced on Friday. The RBI ordered banks to maintain a 10% incremental cash reserve ratio (I-CRR) on the growth in their net demand and [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":47406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-109442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBI decides to discontinue the incremental CRR in a phased manner - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The Incremental Cash Reserve Ratio (I-CRR), which was implemented to absorb excess liquidity following the withdrawal of Rs 2,000 currency notes, would be phased out starting on Saturday, the Reserve Bank announced on Friday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/rbi-decides-to-discontinue-the-incremental-crr-in-a-phased-manner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI decides to discontinue the incremental CRR in a phased manner\" \/>\n<meta property=\"og:description\" content=\"The Incremental Cash Reserve Ratio (I-CRR), which was implemented to absorb excess liquidity following the withdrawal of Rs 2,000 currency notes, would be phased out starting on Saturday, the Reserve Bank announced on Friday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/rbi-decides-to-discontinue-the-incremental-crr-in-a-phased-manner\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-08T10:28:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-08T10:28:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/06\/RBI-21-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/rbi-decides-to-discontinue-the-incremental-crr-in-a-phased-manner\/\",\"url\":\"https:\/\/tradebrains.in\/features\/rbi-decides-to-discontinue-the-incremental-crr-in-a-phased-manner\/\",\"name\":\"RBI decides to discontinue the incremental CRR in a phased manner - 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