The RBI has also decided to keep the cash reserve ratio of scheduled banks unchanged at 4.0 per cent.
On the basis of an assessment of the current and evolving macroeconomic situation, the Reserve bank of India has reduced the policy repo rate by 25 basis points from 7.5 per cent to 7.25 per cent with immediate effect. It has also decided to keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent.
Here is the full text of the second Bi-monthly Monetary Policy Statement by RBI Governor Raghuram Rajan.
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