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Banks request RBI to advance time for reporting CRR status

"Banks want the CRR cut-off timing to be advanced. Under the current system, banks must maintain a satisfactory buffer until midnight to ensure that the reserve requirement is met," a source said. "What is happening now is that a bank can be faced with a sudden outflow because of the pickup in 24x7 banking. So, banks are keeping a protective buffer at the SDF instead of deploying funds in the call market." ....

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