The RBI concerning over the global market meltdown, has cut the CRR by 150 bps to 7.5 per cent. The finance minister earlier had assured to infuse more money into the market to tackle the liquidity in the market. In the latest development, the inflation dips to 11.8 per cent from 11.99 per cent. This is just like win-win situation for RBI, as it infused more money to protect the banking system from the global credit crisis.
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