The Reserve Bank of India (RBI) Monday cut cash reserve ratio (CRR), the proportion of money banks are required to keep with the central bank, by 0.25 percent, in a bid to boost liquidity in the system.
The CRR cut will release Rs.17,000 crore liquidity in the economy.
In the mid-quarter review of the monetary policy, the central bank kept other key policy rates unchanged saying inflation remained a big concern.
—-IANS