3 min read.Updated: 05 Jun 2021, 02:26 PM ISTHena Nagpal
It is the time for you to lock into a fixed deposit or a bond which tides over the coming few months.
As expected, in its second bi-monthly monetary policy review for 2021-2022, RBI kept the main policy rates unchanged. Cash Reserve Ratio (CRR) remained unchanged at 4%. As a reminder, this rate was brought down from 4.40% in March 2020. Cash Reserve Ratio (CRR) is the share of a bank's total deposit that is mandated by the Reserve Bank of India (RBI) to be maintained with RBI as reserves in the form of liquid cash. An upward revision in the same would have sucked out money from the banking system. Banks would then have lent at higher rates.
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