In the third quarter review of the Annual Monetary Policy the RBI (Reserve Bank of India) has increased the CRR (Cash Reserve Ratio) by 75 bps to 5.75% whereas the key interest rates remain unchanged. This CRR hike of 75 bps comes in two stages, the first with hike of 50 bps which will be effective from February 13, 2010 and the second hike of 25 bps will be effective from February 27, 2010. RBI kept the Repo Rate unchanged @ 4.75% and Reverse Repo Rate unchanged @ 3.25%.
Key highlights of Annual Monetary Policy:
CRR: Hiked by 75 bps
Repo Rate: unchanged at 4.75%
Reverse Repo Rate: unchanged at 3.25%
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