Statutory reserves are those reserves which are required to maintained by entity due to provisions in the ACT by whom the entity govern. The accumulation and use of these reserves are already define in the said ACT.
CRR: According to SEC 42(1) of RBI Act 1934, scheduled banks are required to maintained average daily cash balance with RBI to meet their net demand & liability and this average cash balance is measured by Cash Reserve ratio.
SLR: IN addition to Average daily balance, every scheduled bank are required to maintain the such balance in cash or in gold & gold approved securities. this is known as statuary liquidity ratio.
However there is maximum and minimum percentage requirement, which are time to time change by the RBI for both CRR & SLR.

Hello , just trying to explain ur querry in simple words:
A. Statutory reserve is the amount of money that any bank has to maintain with the Reserve bank for every customer.

B. The Cash Reserve Ratio (CRR) refers to this liquid cash that banks have to maintain with the Reserve Bank of India (RBI) as a certain percentage of their demand and time liabilities. For example if the CRR is 10% then a bank with net demand and time deposits of Rs 1,00,000 will have to deposit Rs 10,000 with the RBI as liquid cash.

C. Statutory Liquidity Ratio is the amount of liquid assets, such as cash, precious metals or other approved securities, that a financial institution must maintain as reserves other than the Cash with the Central Bank. The statutory liquidity ratio is a term most commonly used in India
The objectives of SLR are:
1.To restrict the expansion of bank credit.
2.To augment the investment of the banks in Government securities.
3.To ensure solvency of banks. A reduction of SLR rates looks eminent to support the credit growth in India.

Well said sir

Well said by vikas and priyanka ji