The Reserve Bank of India has amended its cash reserve ratio and statutory liquidity ratio directions for rural co operative banks to exempt fresh Non-Resident External Rupee term deposits with a tenor of three years or more from CRR and SLR. The exemption covers deposits mobilized between June 19, 2026 and Sept. 30, 2026, including deposits renewed on maturity, and takes immediate effect. For CRR, the exemption applies from the reporting fortnight beginning July 16, 2026, based on net demand and time liabilities computed as on June 30, 2026, and continues in subsequent fortnights. It is available only for the original deposit amounts for as long as the deposits remain on banks' books. Transfers from Non-Resident Ordinary accounts to NRE accounts do not qualify for the exemption.
Reserve Bank of India2026-06-19
Reserve Bank of India exempts new long tenor NRE deposits at rural co operative banks from CRR and SLR until Sept. 30, 2026
The Reserve Bank of India has exempted fresh NRE term deposits of three years or more at rural co operative banks from CRR and SLR if they are raised between June 19, 2026 and Sept. 30, 2026. The measure includes renewed deposits, takes immediate effect, and for CRR applies from the reporting fortnight beginning July 16, 2026. Transfers from NRO accounts to NRE accounts are excluded.