CRR is an abbreviated term for Cash Reserve Ratio, which is the percentage of deposits that banks have to hold with the central bank. Synonyms for the term CRR could be defined as reserve ratio, bank reserve ratio, or required reserve ratio. These terms are used interchangeably to describe the same concept of the portion of deposits that banks must keep in reserve. High reserve ratios like CRR are designed to curb inflation, encourage economic growth, and safeguard the stability of the banking sector. Overall, banks must comply with the CRR to ensure deposit safety and implement effective monetary policies for the overall stability of the financial system.