Banking News

RBI slashes Repo Rate by 25 basis point


RBI slashes ‘Repo rate’ by 25 basis point from immediate effect. Consequently the policy rates will be as under from 04.03.2015

Repo Rate…………………7.50%
Reverse Repo Rate……6.50%
Marginal Standing Facility Rate….8.50%
Bank Rate………………………………….8.50%
SLR…………………………….21.50% (Unchanged)
CRR……………………………4% (Unchanged)

RBI continues to provide liquidity under overnight repos of 0.25 percent of bank-wise NDTL at the LAF repo rate and liquidity under 7-day and 14-day term repos of up to 0.75 percent of bank-wise NDTL of the banking system through auctions and continue with daily variable rate term repo and reverse repo auctions to smooth liquidity. RBI continues with daily variable rate repos and reverse repos to smooth liquidity.

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