The Reserve Bank of India cuts repo, CRR, SLR.

The Reserve Bank of India, or RBI, has cut the repo rate by 50 basis points to 7.5% with effect November 3. It has also cut CRR, or cash reserve ratio, by 100 bps in two stages to 5.5%. The first stage of CRR cut would be with effect October 25 and the second stage would come into effect November 8. The 100-bps CRR cut will infuse Rs 40,000 crore into the system, the RBI said. The central bank will also cut SLR to 24% by 100 bps from November 8 onwards. It has allowed refinance to banks up to… More information...

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