what is current SLR rate in india?
Answers
Answer:
New Policy Rates by RBI in Indian Banking (as on February 10, 2022): SLR Rate : 18.00% CRR : 4.00% MSF : 4.25%
Explanation:
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Answer:
Statutory Liquidity Ratio (SLR) is typically defined as the ratio of a bank's liquid assets to a bank's net demand and time liabilities (NDTL).
The current SLR rate is 18%.
Explanation:
SLR is one of the reserve ratios that has to be maintained by all banks as per the mandate of RBI. The other reserve ratio is known as the cash reserve ratio (CRR). A CRR refers to a particular percentage of a bank's overall deposits that needs to be kept with the Reserve Bank of India as a cash reserve.
A bank needs to maintain both CRR and SLR in order to function effectively in India according to the specifications of the RBI. Each banking institution is given customised instructions regarding the maintenance of SLR by the RBI. The RBI also offers regular updates regarding the classification of assets that will be treated as liquid assets under SLR.