Web Analytics Business News This Week RBI cuts CRR by 150 bps, inflation dips to 11.8 per cent | Business News This Week

Oct 10, 2008

RBI cuts CRR by 150 bps, inflation dips to 11.8 per cent

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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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