The Reserve Bank of India has today announced the following measures :

1. A reduction in Repo Rate from 8 per cent to 6 per cent effective March 3, 1999.

 
2. A reduction in Bank Rate from 9 per cent to 8 per cent effective close of business hours on March 1, 1999.

 
3. A reduction in Cash Reserve Ratio from 11 per cent to 10.5 per cent effective from the fortnight beginning on March 13, 1999.