Distinguish between the following: 'Cash reserve ratio' and 'statutory liquidity ratio'.

'Cash Reserve Ratio (CRR)' Cash reserve ratio (CRR) is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as deposits with the central bank. CRR is set according to the guidelines issued by RBI in this behalf. 'Statutory Liquidity Ratio (SLR)' Statutory liquid ratio (SLR) is used by bankers and indicates the minimum percentage of deposits that the bank has to maintain in form of gold, cash or other approved securities. Thus, we can say that it is ratio of cash and some other approved securities to liabilities (deposits) it regulates the credit growth in India.