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RBI to ease genuine pain of citizens: Patel

Breaks silence on the raging issue of demonetisation, emphasises liquidity in the banking system has increased

Press Trust of India  |  New Delhi 

Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel today said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible. Patel also said the RBI has announced an incremental CRR (Cash Reserve Ratio) of 100 per cent "because of the large increase in deposits of banks on account of the return of Rs 1,000 and Rs 500 notes" and the decision would be reviewed immediately once the government ...

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First Published: Mon, November 28 2016. 03:30 IST