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53588105
Published on
March 01, 1999
RBI announces reduction in Repo Rate, Bank Rate and CRR
The Reserve Bank of India has today announced the following measures :
- A reduction in Repo Rate from 8 per cent to 6 per cent effective March 3, 1999.
- A reduction in Bank Rate from 9 per cent to 8 per cent effective close of business hours on March 1, 1999.
- A reduction in Cash Reserve Ratio from 11 per cent to 10.5 per cent effective from the fortnight beginning on March 13, 1999.
Alpana Killawala
General Manager
Press Release : 1998-99/1118
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