RBI slashes CRR
Monday, 6 October, 2008

With inflation touching below 12 percent, the Central Bank has cut down the cash Reserve Ratio by 50 points on Monday. RBI has revised the CRR to 8.5 pc which will come into effect from Oct 11th.

 

The relaxation in the banks's tight monetory measures comes in the wake of the slight moderation in the inflation levels. This expected to come down further and the RBI's move is aimed to bring in more funds to the financial system.

--MP