As expected RBI keeps interest rate, CRR unchanged After its - TopicsExpress

As expected RBI keeps interest rate, CRR unchanged After its three consecutive rate cuts, RBI today left key policy rates - repo, reverse repo and Cash Reserve Ratio (CRR) unchanged in its mid-quarter monetary policy review. Experts say that the central bank refrained from cutting its key rates due to steep depreciation in rupee. Currently, the repo rate stands at 7.25 percent while reverse repo is at 6.25 percent. Repo rate is the rate at which RBI lends to banks while reverse repo is the rate RBI pays to banks to store their excess funds. The cash reserve ratio (CRR), which banks have to maintain with RBI remains unchanged at 4%.

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