RBI hikes CRR by 50 basis points

Last updated: 19 April 2008

Joining the government in battling the skyrocketing inflation, the Reserve Bank of India (RBI) today hiked the cash reserve ratio (CRR) by 50 basis points to 8%. The ratio indicates the amount of money banks have tokeep with RBI as a percentage of their liabilities (deposits). The rate hike will

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