CRR and SLR: the two statutory reserve requirements on banks, and what each can be held in

Background

Under the Reserve Bank's Directions, every bank must maintain in India, as cash reserve, a sum equal to a percentage of its Net Demand and Time Liabilities (NDTL) that the Reserve Bank specifies by notification in the Official Gazette, having regard to monetary stability.
A scheduled bank keeps its Cash Reserve Ratio (CRR) as an average daily balance with the Reserve Bank.
In addition, a bank must keep Statutory Liquidity Ratio (SLR) assets worth not less than a percentage, not exceeding forty per cent, of its demand and time liabilities, as the Reserve Bank specifies.
SLR can be held as cash, gold, or unencumbered investment in SLR securities, namely dated securities of the Government of India, Treasury Bills and State Development Loans.
So CRR is parked with the central bank, while SLR stays with the bank itself as liquid assets.