The apex bank has cut CRR by 50 basis points to five per cent, short-term lending (repo) rate by 100 basis points to 5.5 per cent with immediate effect and short-term borrowing (reverse repo) rate by similar percentage points at 4 percent. The cut in CRR would lead to infusion of Rs 20,000 crore into the system over and above Rs 3,00,000 crore (Rs 3000 billion) injected since October 2008.
Current rates now are:
CRR 5%
Repo Rate 5.5%
Reverse Repo Rate 4%
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