RBI issues clarification on CRR Calculation
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The Reserve Bank of India (RBI) on Wednesday issued further clarifications on the recently announced relaxation on cash reserve ratio (CRR) calculations for incremental credit extended for automobiles, residential housing and micro, small and medium enterprises (MSMEs).
The central bank explained that to calculate the incremental credit, the outstanding retail loans to the specified segments as on every reporting Friday beginning February 14 up to that of July 31, 2020, will be deducted from the outstanding credit to the specified segments as on January 31, 2020.
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The central bank explained that to calculate the incremental credit, the outstanding retail loans to the specified segments as on every reporting Friday beginning February 14 up to that of July 31, 2020, will be deducted from the outstanding credit to the specified segments as on January 31, 2020.
CLICK ON THE LINK FOR CIRCUAR.
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