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RBI hikes cash reserve ratio by 0.5 per cent
Tuesday, October 30, 2007 www.hindu.com
(
Business
)
Belying expectations of any relief on interest rate front, Reserve Bank on Tuesday hiked the statutory deposits - CRR - by 0.5 per cent to 7.5 per cent despite inflation falling to a five-year low.
Cash Reserve Ratio is the ratio of interest-free cash reserves mandatorily kept by the banks with the RBI, which had it been unchanged could have provided banks an option to ease the lending rates.
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