Accordingly, the repurchase rate and reserve repurchase rate have been maintained at 7.5 per cent and 6.5 per cent respectively while the
cash reserve ratio and the statutory liquidity ratio have been left untouched at 4 per cent and 21.5 per cent.
The
cash reserve ratio has been left unchanged at 4 per cent.
But the Reserve Bank of India left the
cash reserve ratio, or the amount of deposits that banks have to park with it, unchanged at 4 percent.
A poll last week showed most economists expect a repo rate cut, but few expected a cut in the
cash reserve ratio. Expectations have grown since then for a CRR cut.
The bank cut the
cash reserve ratio - the percentage of cash commercial banks must keep on hand - by half a percentage point, to 5.5%, which should add pounds 5bn to India's cash-strapped banking system.
PTI NEW DELHI THE Reserve Bank of India in its quarterly review meet on Tuesday cut the
cash reserve ratio (CRR) by 50 bps to ease tight liquidity pressure in the banking system.
The
cash reserve ratio (CRR) was held at six per cent.
The
cash reserve ratio has been kept unchanged at 6%.
In its second move this month to drain liquidity from the banking system, the Reserve Bank of India is raising the
cash reserve ratio by 25 basis points to 8.25 per cent, its highest level in seven years, with effect from May 24.
Inflation has almost doubled since November and the bank said yesterday it was raising its
cash reserve ratio by 25 basis points to 8.25 per cent from May 24.
The new credit policy, called Guidelines for Accessing Real Sector Support Facility (RSSF) through
Cash Reserve Ratio (CRR) and Corporate Bonds, was released by the CBN on Thursday.
The bank left its
cash reserve ratio (CRR) unchanged at 4 percent and cut the statutory liquidity ratio (SLR) requirement by 50 basis points to 19.5 percent.
