Reserve Bank Hiked CRR and Repo Rates again to Curb Inflation

In a bid to contain inflation, the Reserve Bank on Friday hiked the key short-term lending rate (repo) by 0.25 per cent to 7.75 per cent.The Central bank has also raised the Cash Reserve Ratio (CRR) by 0.5 per cent in two tranches. Initially, CRR would be up at 6.25 per cent w.e.f April 14 and 6.5 per cent from April 28.They have also cut interest on CRR to 0.5 per cent as against a per cent from April 14. The current CRR hike to drain Rs 15,500 crore from banks. Reports NDTV


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