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May 12, 2001 		Feedback  
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Reserve Bank of India cuts CRR to 7.5 per cent effective May 19

The Reserve Bank of India on Saturday announced a 50 basis points cut in the cash reserve ratio for banks to 7.5 per cent.

The reduction will be effective from the two-week period beginning May 19, it said.

The RBI said the CRR cut will release about Rs 45 billion to the banking system.

Banks in India maintain CRR over a two-weekly period and report balances to the RBI on alternate Fridays.

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