RBI hikes CRR by 75 bps

New Delhi : India | Jan 28, 2010 at 6:15 AM PST

Source: NewKerala

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The hike will impound Rs 36,000 crore from the banking system. The RBI kept the reverse repo and repo rates (at 4.75 pct and 3.25 pct respectively) unchanged. The first phase of 50 basis points CRR hike will be effective Feb 13 while the second stage will take effect from Feb 27. FULL ARTICLE AT NewKerala

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