Central bank cuts key ratesApril 21st, 2009 - 1:02 pm ICT by IANS
Mumbai, April 21 (IANS) India’s Central bank cut key rates Tuesday by 25 basis points in a move to infuse more liquidity into the system and stimulate lending growth.
The Reserve Bank of India (RBI) cut the repo rate by 25 basis points from the current 5 percent to 4.75 percent, while the reverse repo rate has been brought down to 3.25 percent from 3.5 percent earlier.
The repo rate is the rate at which the RBI borrows from the banks, while the reverse repo rate is the interest rate paid to banks for RBI’s borrowings from them.
However, RBI kept the cash reserve ratio (CRR) unchanged at 5 percent. CRR is the minimum cash reserve balance banks must maintain against customer deposits.
RBI had last cut key rates March 4.
- RBI keeps key rates unchanged as inflation outlook worsens (Lead) - Jul 31, 2012
- RBI keeps key rates unchanged as inflation persists - Jul 31, 2012
- RBI keeps key rates unchanged, cuts SLR by 1 percent (Roundup) - Jul 31, 2012
- Inflation, fiscal deficit leave little room for rate cut - Jul 29, 2012
- Reserve Bank of India keeps rates unchanged - Mar 15, 2012
- Rs.17,000 crore released into banking system; retail interest rates expected to fall (Roundup) - Sep 17, 2012
- RBI governor meets Mukherjee ahead of policy review - Apr 03, 2012
- India's central bank cuts rates to push growth (Lead) - Apr 17, 2012
- India Inc welcomes rate cut (Lead) - Apr 17, 2012
- Inflation still a concern for RBI as rates left unchanged (Lead) - Mar 15, 2012
- India's central bank frees more money for credit (Lead) - Mar 09, 2012
- RBI mid-quarter policy review highlights - Mar 15, 2012
- India's central bank keeps key lending rates unchanged (Fourth Lead) - Jun 18, 2012
- RBI hikes short-term lending, borrowing rates by 25 basis points - Nov 02, 2010
- Inflation still above acceptable levels: Subbarao - Jun 19, 2012
Tags: bank of india, banks, basis points, borrowings, cash reserve ratio, crr, customer deposits, interest rate, liquidity, rbi, repo rate, reserve balance, reserve bank of india, reverse repo, s central