RBI cuts cash reserve ratio by 0.5% to 8.5% * CRR cut will add $4 billion into the financial system * Sensex closes 700 pts lower over concerns about foreign fund withdrawals * Rupee falls to lowest since early April 2003 at Rs47.30/dollar * Era Infra says JV gets Rs1.3 bn contract * Nomura to buy Lehman’s Indian operations - Livemint
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