RBI tightens daily CRR rules as banking-system liquidity stays elevated

The Reserve Bank of India has raised the minimum daily cash reserve ratio maintenance requirement for banks to 99% from 90%, while leaving the overall CRR unchanged at 3%, effective the fortnight beginning October 16.

The move targets surplus liquidity of about ₹4 lakh crore in the banking system, reducing banks' flexibility to vary reserve balances within a fortnight.

The step fits the central bank's broader shift toward calibrated tightening, alongside its interventions to support the rupee — including the special dollar window for oil companies announced the same weekend.