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ICICI Direct Report
The Reserve Bank of India maintained its repo rate at 4.0%, reverse repo rate at 3.35% and marginal standing facility at 4.25%.
Monetary Policy Committee members voted unanimously on status quo and maintained ‘accommodative' stance.
Restoring cash reserve ratio to 4% from 3% to manage liquidity and this opens up space for a variety of market operations to inject additional liquidity by RBI.
Several measures like targeted long-term repo Operations to non-banking financial companies and more were also announced by RBI in today's policy.
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