RBI announces steps to inject Rs 48,000 cr
PTI
MUMBAI, DEC 16
The Reserve Bank today paused further key policy rate hikes and announced steps to pump in Rs 48,000 crore into the banking system, even as Finance Minister Pranab Mukherjee said this will not add to inflationary pressures.
“Reduction of one percentage in SLR combined with the infusion of Rs 48,000 crore in the next one month time has uplifted the investor sentiment. leading brokerage firm IIFL Research Head Amar Ambani said
The Central bank reduced reduced the Statutory Liquidity Ratio, portion of deposits that banks must invest in government securities, by one percentage point to 24 per cent.
RBI in its mid-quarter credit review refrained from changing them further.
It retained the repo at 6.25 per cent and the reverse repo at 5.25 per cent.
