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Thursday July 31st 2014

Reserve Bank of India Raises Repo Rates by 50 Basis Points

Reserve Bank of India in a bid to put brake to the raising Inflation rate has decided in its first monetary policy review of 2012, to raise repo and reverse repo rates by 50 basis points. This puts repo (rate at which it lends to banks) to 7.25% and reverse repo (rate at which it borrows) to 6.25%. However, the CRR has been left unchanged at 6%.