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Reserve Bank of India cut CRR by 50 basis points
6 October 2008, 06:42pm IST

In a surprise move Reserve Bank of India cur Cash Reserve Ratio by 50 basis points to easy the liquidity issue. New rate is 8.5% and will release 20,000 crore to the system.

Reserve Bank's quick move came after Indian markets lost more than 5% on weak global clues and Rupee depreciated to fresh five and half year low.

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