The Reserve Bank of India (RBI) has issued the Third Amendment Directions, 2026 under the Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) frameworks applicable to Commercial Banks, Small Finance Banks, Urban Co-operative Banks, Rural Co-operative Banks, and Regional Rural Banks. Under the amended directions, fresh Non-Resident (External) Rupee (NRE) term deposits with a tenor of three years or more, mobilized or renewed between June 19, 2026 and September 30, 2026, shall be exempt from the maintenance of CRR and SLR requirements. The CRR exemption will be effective from the reporting fortnight beginning July 16, 2026, based on NDTL computation as on June 30, 2026, and will continue for the original deposit amount as long as the deposits remain on the bank’s books. Transfers from Non-Resident (Ordinary) (NRO) accounts to NRE accounts will not qualify for the exemption. The amendments, which came into force with immediate effect, also introduce corresponding changes to reporting formats and relevant provisions of the respective CRR and SLR Directions, with the objective of encouraging inflows of long-term NRE deposits.
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