MUMBAI, Nov 30 (Reuters) - The Reserve Bank of India on
Wednesday allowed lenders to include old 500 and 1,000 rupee
notes as part of their cash balance, a move that analysts said
would make it easier for the sector to fulfill their cash
reserve ratio requirements.
In a statement, the central bank said that all scrapped
currency notes held in their chests will be counted as part of
their cash balance.
Analysts said the move would help banks adhere to the RBI's
sharp hike in the CRR announced on Saturday.
The RBI said it will review the decision in the second half
For RBI statement see http://bit.ly/2gjpZlK
(Reporting by Suvashree Dey Choudhury; Editing by Rafael Nam)