Reserve Bank of India (RBI) announces reduction of cash reserve ratio (CRR) of scheduled banks by 75 basis points -9th March 2012

Reserve Bank of India has decided to reduce the cash reserve ratio (CRR) of scheduled banks by 75 basis points from 5.5 per cent to 4.75 per cent of their net demand and time liabilities (NDTL) effective the fortnight beginning March 10, 2012.