RBI withdraws incremental CRR of 100% amid note ban
In its first bi-monthly policy review after demonetisation, the RBI on Wednesday withdrew the incremental cash reserve ratio (CRR) of 100%. The incremental ratio was effective from the fortnight beginning November 26 as a temporary measure to absorb excess liquidity in banking system following demonetisation. The move was estimated to remove around ₹3.24 lakh crore of excess liquidity.