RBI announces reduction in Repo Rate, Bank Rate and CRR - RBI - Reserve Bank of India
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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