The answer is no; CRR remains a very relevant tool for our monetary system
.......Pratip Chaudhuri has not found significant support from other banking sector heads either. S Raman, CMD of Canara Bank expressed that CRR can not be completely abolished in India considering the high inflation rate. Echoing RBI, ICICI Bank’s non-executive Chairman, KV Kamath too disagreed with the suggestion of the SBI chief and conveyed that "...monetary authority (RBI) in its wisdom uses these tools appropriately and that is what is being done. This is nothing new. India always [has] had a CRR for as long as I can remember and I do not think honestly [that there is] an issue to be made here." Without doubt, CRR is not a new concept in the world......
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