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Just in: RBI surprises street with early rate cut

15 Jan 2015 Evaluate

The Reserve Bank of India (RBI) on Thursday has surprised the market by cutting repo rate by 25 basis points to 7.75 percent from 8 percent, with immediate effect, ahead of its policy review on February 3, 2015. Meanwhile, the cash reserve ratio (CRR) has been kept unchanged at 4% of net demand and time liabilities (NDTL) while the reverse repo rate stands adjusted to 6.75%.