RBI raises CRR for non-scheduled urban co-operative banks

The Reserve Bank of India increased the cash reserve ratio (CRR) for non-scheduled urban co-operative banks (UCBs) by 100 basis points to 4%. One basis point is equal to one hundredth of a percentage.  This increase will come into effect from July 12. The move will bring nonscheduled urban co-operative banks on par with scheduled primary urban co-operative banks.


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