Home / Knowledge / News / Textiles / RBI withdraws the incremental CRR from Dec 10
RBI withdraws the incremental CRR from Dec 10
07
Dec '16
RBI Governor Urjit Patel and other officials addressing a press conference. Courtesy: Youtube
RBI Governor Urjit Patel and other officials addressing a press conference. Courtesy: Youtube
The Reserve Bank of India (RBI) has decided to withdraw the incremental cash reserve ratio (CRR) of 100 per cent effective the fortnight beginning December 10, 2016. This has been done following the enhancement in the ceiling for issue of securities under the Market Stabilisation Scheme (MSS) to Rs 6,000 billion, RBI governor has announced.

On November 26, 2016 the RBI had announced an incremental CRR of 100 per cent of the increase in net demand and time liabilities (NDTL) of scheduled banks between September 16, 2016 and November 11, 2016 effective the fortnight beginning November 26, 2016. It was intended to absorb a part of the large increase in liquidity in the system following the withdrawal of the legal tender status of Rs 500 and Rs 1,000 denomination bank notes. It was also indicated that the incremental CRR was purely a temporary measure and that it would be reviewed on December 9, 2016 or even earlier.

The liquidity released by the discontinuation of the incremental CRR would be absorbed by a mix of MSS issuances and liquidity adjustment facility (LAF) operations, RBI said. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

'Sportswear is much more mainstream than earlier'

Fashion | On 20th Jul 2018

'Sportswear is much more mainstream than earlier'

The business of sportswear has evolved at a fast pace over the years. ...

Courtesy: YKK

Textiles | On 20th Jul 2018

Japanese firm YKK explores opening office in Uzbekistan

Japanese company YKK recently discussed with the Uztuqimachiliksanoat ...

HFPA alerts member firms on latest US tariff announcement

Textiles | On 20th Jul 2018

HFPA alerts member firms on latest US tariff announcement

The US Home Fashion Products Association (HFPA) has alerted its...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search