New Delhi, Oct. 10 -- The Reserve Bank of India (RBI) on Friday raised the minimum daily cash reserve ratio (CRR) maintenance requirement for banks to 99 per cent from 90 per cent of the prescribed requirement, effective from the fortnight beginning October 16, 2026, tightening its liquidity management framework.

The move follows the RBI's decision earlier this week to raise the policy repo rate by 25 basis points to 5.50 per cent, the first increase in two-and-a-half years. The central bank has also announced an open market operation (OMO) sale of government securities worth Rs 25,000 crore on October 13 to absorb surplus liquidity from the banking system.

The RBI has not changed the overall CRR requirement, which remains at 3 per cent...