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The upping of the daily Cash Reserve Ratio (CRR) maintenance requirement from 90 per cent to 99 per cent within the CRR norm of 3 per cent of deposits, could lead to a small dilution in banks’ net interest margins (NIMs), which they may be able to pass to borrowers, according to Jefferies
NBFC stocks fell up to 5% as revised RBI CRR maintenance norms raised liquidity concerns. Jefferies estimates a potential ₹40,000–₹80,000 crore impact.