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RBI slashes cash reserve ratio by 50 bps to 4% in first cut in over 4.5 years
short by Debaroti Adhikary / on Friday, 6 December, 2024
RBI Governor Shaktikanta Das on Friday announced Monetary Policy Committee's (MPC) decision to slash cash reserve ratio (CRR) by 50 bps to 4%. This marks the first CRR cut since March 2020, when it was cut by 100 bps from 4% to 3%. CRR is the proportion of bank's deposits that must be kept in cash or reserves with RBI.
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