RBI cuts repo rate by 75 bps to 4.4 pc; slashes CRR by 100 bps
The central bank also reduced the cash reserve ratio (CRR) of all banks by 100 basis points to 3 per cent with effect from March 28 for 1 year.
RBI will maintain accommodative stance, Governor Shaktikanta Das said while announcing decisions of Monetary Policy Committee (MPC)."MPC voted for sizeable reduction in interest rate," he said. DP ANZ ANSANS
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