Rediff Logo
Home > Money > Reuters > Report
April 29, 2002 | 1350 IST
  Money Matters

 -  Business Headlines
 -  Corporate Headlines
 -  Business Special
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff


 Secrets every
 mother should

 Your Lipstick

 Make money
 while you sleep.

 Bathroom singing
 goes techno!

 Search the Internet
 Sites: Finance, Investment

Print this page Best Printed on  HP Laserjets
E-Mail this report to a friend

CRR cut will release Rs 50 bn, says Jalan

The Reserve Bank of India Governor Bimal Jalan said on Monday the proposed cut in banks' cash reserve ratio will release around Rs 50 billion ($1.02 billion) of funds to the system.

Jalan was speaking to television reporters after unveiling the Monetary and Credit Policy for the year that began on April 1.

The policy cut banks' cash reserve ratio to 5.0 per cent effective mid-June from 5.5 per cent, and said that effective date could be advanced if the need arose.

It left the benchmark bank rate, which is used by commercial banks to price their loans, steady at 6.5 per cent but the central bank said it would consider a reduction of up to half a percentage point if conditions warranted.

The Monetary and Credit Policy 2002-2003
The Rediff Budget Special

Back to top
(c) Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Tell us what you think of this report