The controversy over the relevance of Cash Reserve Ratio (CRR) has resurrected with HDFC Bank, India's second biggest private sector lender pitching for a review on quantum of deposits that banks need to park with the Reserve Bank of India (RBI). "Some amount of CRR is necessary but the quantum can be examined. Also, it is necessary to review if we have to pay interest on CRR. Most countries have CRR in place but a lower amount”, HDFC Bank's managing director Aditya Puri told Business Standard on the sidelines of a press meet here.........
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