Busy Season Sees Rs 1 Crore Credit Offtake Per Day

A 50 basis point cut in the bank rate and a 200 basis point reduction in the cash reserve ratio meant a liquidity injection of Rs 6,000 crore into the system. All done to ensure ample and cheap availability of credit to the corporate sector. The result: in the first fortnight after the credit policy which announced these measures, the credit offtake is all of Rs 14 crore