Ahead of the quarterly monetary policy, the Reserve Bank of India (RBI) has shot down the proposal of the finance ministry for payment of interest on cash reserve ratio (CRR) being maintained by scheduled commercial banks with the central bank. This is the second time the RBI is rejecting the government proposal on interest payment on CRR — the portion of deposits to be kept with the RBI — to banks.

Source - http://www.financialexpress.com