Current CRR and SLR Rate 2026 (as on 17 October 2026)
The current CRR (Cash Reserve Ratio) is 3.00% and the current SLR (Statutory Liquidity Ratio) is 18.00% of a bank's net demand and time liabilities (NDTL), as shown on the Reserve Bank of India's website on 17 October 2026. CRR has stayed at 3% since the fortnight beginning 29 November 2025, and SLR has stayed at 18% since April 2020; the October 2026 policy did not change either ratio, but RBI did tighten how CRR is maintained day to day.
Key takeaway for bank exams: CRR 3% (cash with RBI, earns no interest, Section 42(1) of the RBI Act, 1934). SLR 18% (cash, gold or approved securities kept by the bank itself, Section 24 of the Banking Regulation Act, 1949). From the fortnight beginning 16 October 2026, banks must keep at least 99% of the required CRR every day, up from 90%.
All policy rates in this note were checked against rbi.org.in on 17 October 2026. If you are revising the policy rate side as well, read our repo rate history year wise alongside this note.
CRR and SLR Rate Today: All RBI Rates in One Table
Bank exams usually ask CRR and SLR together with the policy corridor, so learn the full set as one block.
| Rate | Current value | Last changed | Who decides |
|---|---|---|---|
| Cash Reserve Ratio (CRR) | 3.00% of NDTL | Fortnight from 29 Nov 2025 (4th tranche of the 2025 cut) | RBI |
| Statutory Liquidity Ratio (SLR) | 18.00% of NDTL | April 2020 | RBI |
| Policy repo rate | 5.50% | 7 Oct 2026 (+25 bps) | Monetary Policy Committee |
| Standing Deposit Facility (SDF) | 5.25% | 7 Oct 2026 | Repo − 0.25 |
| Marginal Standing Facility (MSF) | 5.75% | 7 Oct 2026 | Repo + 0.25 |
| Bank Rate | 5.75% | 7 Oct 2026 | Aligned to MSF |
| Fixed reverse repo | 3.35% | Unchanged | RBI |
Source: RBI home page "Current Rates", read on 17 October 2026. The MPC decides only the repo rate; CRR and SLR are decided by RBI itself, which is a favourite trap question.
What Is CRR? (Cash Reserve Ratio Meaning)
CRR is the share of a bank's NDTL that it must keep as cash balance with the RBI. The bank cannot lend or invest this money, and RBI pays no interest on it.
- Legal basis: Section 42(1) of the Reserve Bank of India Act, 1934.
- Applies to: all scheduled commercial banks (and other banks covered by the RBI directions).
- Base: net demand and time liabilities (deposits and similar liabilities, after allowed deductions).
- Limits: the RBI (Amendment) Act, 2006 removed the old 3% floor and 20% ceiling, so RBI can now set any CRR.
- Maintenance: CRR is maintained as a fortnightly average. A daily minimum also applies, and that daily minimum is what changed in October 2026.
What changed in October 2026: the 99% daily CRR rule
By circular RBI/2026-27/290 dated 9 October 2026, RBI raised the minimum daily CRR balance from 90% to 99% of the required CRR, effective from the fortnight beginning 16 October 2026. The fortnightly average must still equal the full CRR. In plain words, banks now get almost no day-to-day flexibility to run their CRR balance down and make it up later in the fortnight. RBI linked the move to "current liquidity conditions".
| Item | Before 16 Oct 2026 | From 16 Oct 2026 |
|---|---|---|
| CRR rate | 3% of NDTL | 3% of NDTL (unchanged) |
| Daily minimum balance | 90% of required CRR | 99% of required CRR |
| Fortnightly average | 100% of required CRR | 100% of required CRR |
What Is SLR? (Statutory Liquidity Ratio Meaning)
SLR is the share of NDTL that a bank must keep with itself in safe, liquid assets before it lends.
- Legal basis: Section 24 of the Banking Regulation Act, 1949.
- Eligible assets: cash, gold, and unencumbered approved securities such as Government of India dated securities, treasury bills and State Development Loans.
- Limits: maximum 40% of NDTL; the old 25% floor was removed by the 2007 amendment to the Banking Regulation Act.
- Earns a return: unlike CRR, SLR securities earn interest for the bank.
CRR vs SLR: Difference Table for Bank Exams
| Basis | CRR | SLR |
|---|---|---|
| Full form | Cash Reserve Ratio | Statutory Liquidity Ratio |
| Kept with | RBI | The bank itself |
| Form | Cash only | Cash, gold, approved securities |
| Interest earned | None | Yes, on securities |
| Law | Sec 42(1), RBI Act 1934 | Sec 24, BR Act 1949 |
| Current rate (Oct 2026) | 3.00% | 18.00% |
| Main purpose | Control money supply and liquidity | Ensure bank solvency and fund government borrowing |
| Ceiling | None after 2006 | 40% |
CRR Rate History Year Wise (2020 to 2026)
| Effective from (reporting fortnight) | CRR | Change | Why |
|---|---|---|---|
| Before 28 Mar 2020 | 4.00% | — | Pre-COVID level |
| 28 Mar 2020 | 3.00% | −100 bps | COVID liquidity support (temporary) |
| 27 Mar 2021 | 3.50% | +50 bps | First step of restoration |
| 22 May 2021 | 4.00% | +50 bps | Restored to 4% |
| 21 May 2022 | 4.50% | +50 bps | Tightening cycle with repo hikes |
| 14 Dec 2024 | 4.25% | −25 bps | Liquidity release, tranche 1 |
| 28 Dec 2024 | 4.00% | −25 bps | Tranche 2 (released about ₹1.16 lakh crore) |
| 6 Sep 2025 | 3.75% | −25 bps | 2025 cut, tranche 1 |
| 4 Oct 2025 | 3.50% | −25 bps | Tranche 2 |
| 1 Nov 2025 | 3.25% | −25 bps | Tranche 3 |
| 29 Nov 2025 | 3.00% | −25 bps | Tranche 4 (whole cut released about ₹2.5 lakh crore) |
The 2024 and 2025 cuts are confirmed by RBI's press releases of 6 December 2024 and 6 June 2025 and the related notifications. The 2025 cut is the one most likely to be asked: 100 bps in four equal tranches of 25 bps, from 4% to 3%, announced on 6 June 2025.
SLR Rate History (Last 10 Years)
SLR moves slowly. Under the December 2018 policy, RBI cut SLR by 25 bps every quarter from January 2019 until it reached 18% in April 2020, and it has not changed since.
| Period | SLR |
|---|---|
| April 2016 | 21.25% |
| End of 2018 | 19.50% |
| Jan 2019 to Jan 2020 | Cut by 25 bps each quarter |
| April 2020 to October 2026 | 18.00% |
How to Calculate CRR and SLR (Formula with Solved Examples)
Required CRR = CRR% × NDTL and Required SLR = SLR% × NDTL.
Example 1. A bank has NDTL of ₹10,000 crore. Find its CRR and SLR requirement. CRR = 3% of 10,000 = ₹300 crore (with RBI). SLR = 18% of 10,000 = ₹1,800 crore (in approved assets). Funds left for lending before other needs = 10,000 − 300 − 1,800 = ₹7,900 crore.
Example 2. With the 99% daily rule, what is the least CRR balance this bank must hold on any single day? 99% of 300 = ₹297 crore. Under the old 90% rule it was 90% of 300 = ₹270 crore.
Example 3. If CRR is cut by 25 bps for a bank with NDTL of ₹4,00,000 crore, how much cash is released? 0.25% of 4,00,000 = ₹1,000 crore.
Example 4 (money multiplier idea). If CRR were the only reserve rule, the simple money multiplier would be 1 ÷ CRR. At 3% that is 1 ÷ 0.03 ≈ 33.3. Exams sometimes ask this textbook version; real-world multipliers are much smaller.
Penal Interest on Shortfall in CRR and SLR (Oct 2026)
When the Bank Rate rose from 5.50% to 5.75% on 7 October 2026, RBI's circular RBI/2026-27/283 revised the penalty rates linked to it:
| Shortfall penalty | Before 7 Oct 2026 | From 7 Oct 2026 |
|---|---|---|
| Bank Rate + 3 percentage points | 8.50% | 8.75% |
| Bank Rate + 5 percentage points | 10.50% | 10.75% |
The higher rate applies when the shortfall continues, so remember the pair 8.75% / 10.75%.
CRR and SLR as Monetary Policy Tools
CRR and SLR are quantitative tools: they change how much money banks can lend.
- CRR cut → more lendable cash → more liquidity → supports growth (used in 2020, 2024 and 2025).
- CRR hike → less liquidity → helps control inflation (used in May 2022).
- SLR cut → banks can shift money from government bonds to loans.
Other tools you should know alongside them: repo, SDF, MSF, Bank Rate, open market operations and the LAF. For the bigger picture, see Basel norms 1, 2 and 3 difference (capital rules that work next to liquidity rules) and our banking terms A to Z glossary.
Common Mistakes in CRR and SLR Questions
- Saying the MPC decides CRR. It does not; RBI does. The MPC sets only the repo rate.
- Mixing up the laws: CRR is RBI Act Section 42, SLR is BR Act Section 24.
- Writing CRR as 4%: that was the level before the 2025 cut; it is 3% now.
- Thinking the 99% rule raised CRR. It did not; it only raised the daily minimum balance.
- Saying SLR earns nothing. CRR earns nothing; SLR securities do earn interest.
CRR and SLR Questions for Bank Exams (with Answers)
- What is the current CRR (Oct 2026)? (a) 4% (b) 3.5% (c) 3% (d) 4.5%. Answer: (c) 3%.
- Current SLR? (a) 18% (b) 18.5% (c) 19.5% (d) 21%. Answer: (a) 18%.
- CRR is maintained under which law? Section 42(1) of the RBI Act, 1934.
- SLR is maintained under? Section 24 of the Banking Regulation Act, 1949.
- From 16 October 2026, the minimum daily CRR balance is what share of required CRR? 99% (earlier 90%).
- NDTL is ₹50,000 crore. Required SLR? 18% × 50,000 = ₹9,000 crore.
- The 2025 CRR cut was done in how many tranches? Four tranches of 25 bps each (Sep to Nov 2025).
- Which of these earns interest for the bank: CRR or SLR? SLR.
- Penal rate on CRR/SLR shortfall at Bank Rate + 3 points, from 7 Oct 2026? 5.75 + 3 = 8.75%.
- Who decides CRR: MPC or RBI? RBI.
Try more in our IBPS and SBI PO RBI and Monetary Policy Mock Test 01 and IBPS and SBI Clerk RBI and Monetary Policy Mock Test 01.
CRR and SLR FAQs
What is the current CRR and SLR rate in 2026?
As on 17 October 2026, CRR is 3.00% and SLR is 18.00% of NDTL, as shown on rbi.org.in.
When was CRR last changed?
The rate was last changed in the fortnight beginning 29 November 2025, when the fourth 25 bps tranche took it to 3%. In October 2026 RBI changed only the daily maintenance rule (90% to 99%), not the rate.
Does RBI pay interest on CRR?
No. CRR balances earn no interest, which is why banks prefer a lower CRR.
Is CRR decided by the Monetary Policy Committee?
No. The MPC decides the policy repo rate. CRR and SLR are set by the Reserve Bank.
What is the maximum SLR limit?
40% of NDTL under the Banking Regulation Act. There is no minimum floor after the 2007 amendment.
What is NDTL?
Net demand and time liabilities: a bank's demand liabilities (such as current and savings deposits) and time liabilities (such as fixed deposits), minus permitted deductions. CRR and SLR are both calculated on NDTL.
Practice Next
- Mock tests: IBPS and SBI PO Banking Awareness Mock Test 01 and IBPS and SBI Clerk Banking Awareness Mock Test 02.
- October 2026 policy rates, CRR and SLR quiz: SBI PO Mains Banking Awareness Mock Test 01.
- Related notes: repo rate history year wise, RBI governor list 1935 to 2026, priority sector lending targets, banks headquarters and taglines 2026 and NPA classification and provisioning norms; also see monetary policy tools of RBI, plus important banking acts in India, plus inflation and its types.
- Exam details: SBI Clerk 2026 notification.
- Browse all study notes.