CRR lowered by 50 bps, key rates unchanged
Mumbai : The Reserve Bank of India has cut the Cash Reserve Ratio (CRR) by 50 basis points, while the key interest rates have been kept unchanged in its quarterly review. The Cash Reserve Ratio, that is, the proportion of deposits the banks have to keep in the RBI now stands at 5.5%. Meanwhile the Repo Rate, that it, the rate at which the RBI lends to other banks stands at 8.5% while the Reverse Repo Rate, that is the rate at which RBI borrows from banks, stands at 7.5%....
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