As part of its Annual Credit Policy, the Reserve Bank of India (RBI) today cut Repo and Reverse Repo Rates by 25 basis points (0.25%) each.
The Repo is the rate at which the RBI lends to banks while the Reverse Repo is the opposite.
After this cut in rates, the Repo Rate now stands at 4.75% which was earlier 5% while the reverse Repo rate stands at 3.25% which was earlier 3.5%.
The bank regulator decided to leave the cash reserve ratio (CRR) unchanged. So CRR has been left untouched at 5 per cent in the annual policy review on Tuesday.
The GDP forcast for the FY10 has been pegged at about 6 per cent, according to the policy.
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