The central bank announced its monetary policy today. The Reserve Bank of India cut SLR to 22% of Net Demand and Time Liabilities (NDTL) from an earlier 22.5%.
The SLR cut will be effective from August 9. However, the RBI has kept the repo rate and CRR unchanged. While announcing the same, RBI Governor Raghuram Rajan said that the RBI is working on fixing fluctuations in money market rates.
This video is originally sourced from Bloomberg TV India, you can watch it here: http://www.btvin.com/videos/watch/825...
business news italia Market Pulse: RBI Cuts SLR To 22% Of NDTL From 22.5% | |
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