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RBI relaxes cash balance requirements for lenders

Reuters  |  MUMBAI 

(Reuters) - The Reserve of (RBI) on Wednesday allowed lenders to include old 500 and 1,000 rupee notes as part of their balance, a move that analysts said would make it easier for the sector to fulfill their reserve ratio requirements.

In a statement, the central said that all scrapped currency notes held in their chests will be counted as part of their balance.

Analysts said the move would help banks adhere to the RBI's sharp hike in the announced on Saturday.

The RBI said it will review the decision in the second half of February.

For RBI statement see http://bit.ly/2gjpZlK

(Reporting by Suvashree Dey Choudhury; Editing by Rafael Nam)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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RBI relaxes cash balance requirements for lenders

MUMBAI (Reuters) - The Reserve Bank of India (RBI) on Wednesday allowed lenders to include old 500 and 1,000 rupee notes as part of their cash balance, a move that analysts said would make it easier for the sector to fulfill their cash reserve ratio requirements.

(Reuters) - The Reserve of (RBI) on Wednesday allowed lenders to include old 500 and 1,000 rupee notes as part of their balance, a move that analysts said would make it easier for the sector to fulfill their reserve ratio requirements.

In a statement, the central said that all scrapped currency notes held in their chests will be counted as part of their balance.

Analysts said the move would help banks adhere to the RBI's sharp hike in the announced on Saturday.

The RBI said it will review the decision in the second half of February.

For RBI statement see http://bit.ly/2gjpZlK

(Reporting by Suvashree Dey Choudhury; Editing by Rafael Nam)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

RBI relaxes cash balance requirements for lenders

(Reuters) - The Reserve of (RBI) on Wednesday allowed lenders to include old 500 and 1,000 rupee notes as part of their balance, a move that analysts said would make it easier for the sector to fulfill their reserve ratio requirements.

In a statement, the central said that all scrapped currency notes held in their chests will be counted as part of their balance.

Analysts said the move would help banks adhere to the RBI's sharp hike in the announced on Saturday.

The RBI said it will review the decision in the second half of February.

For RBI statement see http://bit.ly/2gjpZlK

(Reporting by Suvashree Dey Choudhury; Editing by Rafael Nam)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22