Rbi Cuts Rates To Boost Confidence

• Bank rate cut to 6%
• 25 basis point CRR cut to release Rs 3,500 cr
• Repo rate untouched

The Reserve Bank of India (RBI) today took two usual measures for unusual reasons. The monetary and credit policy for 2003-2004 cut the benchmark bank rate by 25 basis points (one basis point is one hundredth of a per cent) to 6 per cent