The changes associated with COVID-19 provide an opportunity to reassess this. With social distancing affecting some branch services and the ability of people to get to branches, there has been a push by the banks to get people signed up to internet banking. Payment options such as BPAY and NPP will therefore be available to a wider range of people.
With the information technology available with banks and with the operationalisation of Clearing Corporation of India Ltd. (CCIL) shortly and with the development of repo market, it would be appropriate if CRR is maintained on a daily basis.