RBI hikes CRR by 50 bps, directs banks to maintain an average CRR of 4.5 % w.e.f. May 21, 2022

RBI notifies that the Banks are required to maintain an average Cash Reserve Ratio (CRR) of 4.50 % of their net demand and time liabilities. The changed rates will be effective from the reporting fortnight beginning May 21, 2022RBI notifies that the Banks are required to maintain an average Cash Reserve Ratio (CRR) of 4.50 % of their net demand and time liabilities. The changed rates will be effective from the reporting fortnight beginning May 21, 2022taxmann.com Latest Statutory HappeningsRead More

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