RBI credit policy: CRR cut by 0.25%; repo rate unchanged
By Ira Dugal | Published On: September 17, 2012 11:00 (IST) | Duration: 41 min, 27 sec
The Reserve Bank of India (RBI) cut its key rate by 0.25 per cent in a bid to avoid any liquidity pressure on the banking industry. However, it kept its benchmark repo-rate unchanged. The move comes after a spate of long-delayed reforms unleashed by India to shore up government finances.