RBI surprises market with 50 bps rate cut; CRR unchanged

The Reserve Bank of India (RBI) in its annual monetary policy for 2011-12 on Tuesday slashed the policy rates by 50 basis points. The repo rate at which banks borrow money from the RBI now stands at 8% from 8.50% earlier. Similarly, the reverse repo rate at which RBI borrows money from banks is now at 7% from 7.50% earlier.

April 20, 2012 / 16:58 IST

first published: Apr 17, 2012 11:00 am

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RBI surprises market with 50 bps rate cut; CRR unchanged

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