Banking News

RBI slashes SLR by 50 bps to 21.50% with effect from Feb 7,2015


RBI slashes SLR by 50 bps to 21.50 per cent with effect from February 7, 2015. All other rates remain unchanged. Export Credit refinance (ECR) is replaced with provision of system level liquidity with effect from February 7, 2015.
CRR……………………………4%
SLR…………………………….21.50%
Repo Rate…………………7.75%
Reverse Repo Rate……6.75%
Marginal Standing Facility Rate….8.75%
Bank Rate…………………………………..8.75%
Call Rates……………………………………6.40 to8.40%
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.

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