RBI increases CRR temporarily

With the withdrawal of the legal tender status of ₹ 500 and ₹ 1,000 denomination bank notes (Specified Bank Notes – SBNs) from November 9, 2016, there has been a surge in deposits relative to the expansion in bank credit, leading to large excess liquidity in the...

RBI FAQs on withdrawal of Rs500 and Rs.1000 notes

1. Why is this scheme? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for antinational and...