RBI infuses Rs 20K cr through CRR cut, slashes key rates

The Reserve Bank of India (RBI) on Friday eased money supply further by cutting key policy rates and ratios - decisions that would among other things infuse Rs 20,000 crore into the banking system, according to media reports.

The RBI has cut the cash reserve ratio (CRR) by 50 basis points, and both the repo and reverse repo rates by 100 bps. The CRR now stands at 5%, while the repo rate post the cut stands at 5.5% from 6.5% earlier.