Search: Look for:   Last 1 Month   Last 6 Months   All time

RBI cuts CRR by 0.75 percent points

New Delhi, Fri, 09 Mar 2012 ANI

New Delhi, Mar 9 (ANI): The Reserve Bank of India (RBI) on Friday announced 0.75 percentage points cut in its Cash Reserve Ratio (CRR) in a bid to provide liquidity in the market, which is expected to release Rs 48,000 crores into the economy.


Without waiting for the scheduled policy review due next week, RBI reduced the CRR-the portion of deposits banks require to keep with the central bank from 5.5 per cent to 4.75 per cent.


The central bank in January had reduced CRR by 0.5 percentage points, releasing Rs 32,000 crore liquidity.


These measures, according to the central bank, are aimed at addressing "the liquidity deficit (which) is expected to increase significantly during the second week of March on account of to advance tax outflows and the usual front-loading of cash balances by banks with the Reserve Bank". (ANI)


Manohar Lal being presented with a memento
Manoj Tiwari BJP Relief meets the family members of late Ankit Sharma
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image




Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.