The Reserve Bank of India left interest rates unchanged but cut the cash reserve ratio for banks saying the primary focus of monetary policy remains fighting inflation days after the government unveiled a spree of reforms to boost growth and improve its fiscal position.
The RBI held the policy repo rate at 8% and subsequently the reverse repo rate was left unchanged at 7.00%.
The RBI cut the cash reserve ratio the share of deposits banks must keep with the central bank by 25 basis points to 4.5%.
It also left the minimum requirement for banks government bond holdings at 23% of deposits.Following is a timeline on changes in the statutory liquidity ratio (SLR) since 1949. RATE (PCT) EFFECTIVE DATE 23.00 11-08-2012 24.00 18-12-2010 25.00 07-11-2009 24.00 08-11-2008 25.00 25-10-1997 31.50 29-10-1994 33.75 17-09-1994 34.25 20-08-1994 34.75 16-10-1993 37.25 18-09-1993 37.50 21-08-1993 37.75 06-03-1993 38.00 06-02-1993 38.25 09-01-1993 38.50 29-02-1992 38.50 22-09-1990 38.00 02-01-1988 37.50 25-04-1987 37.00 06-07-1985 36.50 08-06-1985 36.00 01-09-1984 35.50 28-07-1984 35.00 30-10-1981 34.50 25-09-1981 34.00 01-12-1978 33.00 01-07-1974 32.00 08-12-1973 30.00 17-11-1972 29.00 04-08-1972 28.00 28-08-1970 27.00 24-04-1970 26.00 05-02-1970 25.00 16-09-1964 20.00 16-03-1949