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RBI held interest rates steady at 7.75 and cuts cut the statutory liquidity ratio

RBI on Tuesday Feb 3, 2015 held interest rates steady at 7.75 per cent after easing monetary policy just three weeks ago, leaving its next move probably until after the government presents its annual Budget at the end of this month.



Also RBI cut the statutory liquidity ratio (SLR) — or the amount of bonds that lenders must set aside — by 50 basis points to 21.5 per cent of deposits from February 7, prodding banks to increase lending.

The RBI said in its statement that it wanted more comfort that inflation would continue to ease and that it would await action from the government regarding the country's finances. 

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