RBI raises Cash Reserve Ratio, But Home Loan Rates Stay
April 30, 2008 by Editor · 2 Comments
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The Reserve Bank of India (RBI) has hiked the cash reserve ratio (CRR)- the portion of deposits banks have to keep with the RBI-to squeeze money supply and arrest inflation, which has touched 7.33 percent.
The Reserve Bank of India Governor Y.V. Reddy, in the credit policy announced on Tuesday, raised the cash reserve ratio by 0.25 percent to 8.25 percent, the second hike in 12 days. Read more
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Tags: bank customers, cash reserve ratio, crr, icici, interest rates, loan, RBI, reserve bank of india