Top
Begin typing your search above and press return to search.
keyboard_arrow_down
Login
exit_to_app
Two mind-sets: one here,  the other there
access_time 2021-01-20T13:57:46+05:30
What is Halal? Market strategies and controversy
access_time 2021-01-19T15:54:19+05:30
Arnabs chats cannot be ignored
access_time 2021-01-18T11:33:12+05:30
Women and girls need to be safe
access_time 2021-01-15T15:08:45+05:30
DEEP READAll arrow_drop_down
exit_to_app
Homechevron_rightBusinesschevron_rightRBI marginally lowers...

RBI marginally lowers lending rate

text_fields
bookmark_border
RBI marginally lowers lending rate
cancel

Mumbai: Giving in to overwhelming demands for an easing of the monetary policy, the Reserve Bank of India (RBI) on Monday lowered its short-term lending rate by 25 basis points in a move that could potentially reduce the cost of borrowings on personal and corporate loans.

In his bi-monthly monetary policy review for the current fiscal year at the RBI headquarters here on Mint Street, Governor Raghuram Rajan on the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to reduce the repurchase rate to 7.25 percent.

Prior to the review, the repo rate at which the central bank lends short-term funds to commercial banks stood at 7.5 percent.

"Consequently the reverse repo rate under the liquidity adjustment facility (LAF) stands adjusted to 6.25 percent and marginal standing facility (MSF) rate and the bank rate to 8.25 percent," the governor said in a statement.

The cash reserve ratio (CRR), the quantum of funds commercial banks have to keep in the form of cash or government bonds, has been left unchanged at 4 percent of deposits.

Show Full Article
TAGS:
Next Story