In a major move to boost liquidity in the economy, the Reserve Bank of India (RBI) on Friday announced a cut in the Cash Reserve Ratio (CRR) by 100 basis points in four tranches of 25bps each.
"Dr. Rajiv Ranjan, the only member to have continuity from August meeting has reiterated his position that policy action is on course to achieve the objective and window of opportunity to revise the stance will be open in October," said SBI Ecowrap report.
According to the statement of the Governor of the Reserve Bank of India (RBI), Shaktikanta Das, said consequently, the standing deposit facility (SDF) rate stands adjusted to 6 per cent, and the marginal standing facility (MSF) rate and the bank rate to 6.50 per cent.
New Delhi [India], February 10 (ANI): Reserve Bank of India Governor Shaktikanta Das' Monetary Policy Statement on maintaining the status quo in key rates to support exports and manufacturing comes opportunely as early trends of the country's exports in February indicate shipments grew by 28