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RBI Q2 Monetary Policy 2013-14 review on October 29, 2013

The RBI in its Mid-Quarter Review of Monetary Policy 2013-14 on 20 September 2013 hiked the repo rate by 25 bps (basis points) to 7.5%

October 01, 2013 11:58 IST | India Infoline News Service
The Reserve Bank of India will announce the Second Quarter Review of Monetary Policy 2013-14 on Tuesday, October 29, 2013 at 11:00 am.

The RBI in its Mid-Quarter Review of Monetary Policy 2013-14 on 20 September 2013 hiked the repo rate by 25 bps (basis points) to 7.5% and consequently the reverse repo rate stood at 6.5%.

The central bank kept the CRR (cash reserve ratio) unchanged at 4%. The repo rate is the rate at which banks borrow from RBI and one basis point is equivalent to 0.01%. RBI reduced daily CRR requirement to 95% from 99% and maintained MSF (marginal standing facility) rate to 75 bps to 9.5%.

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