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RBI to manage liquidity at plus/minus 1% of deposits

The Reserve Bank of India will manage liquidity in a band of plus or minus one percent of deposits,Governor Duvvuri Subbarao said on Tuesday.

Written by Agencies | Mumbai | Published: April 17, 2012 4:10:46 pm

The Reserve Bank of India will manage liquidity in a band of plus or minus one percent of deposits,Governor Duvvuri Subbarao said on Tuesday.

Earlier in the day,the RBI cut interest rates for the first time in three years by an unexpectedly sharp 50 basis points to give a boost to sagging economic growth,but warned that there is limited scope for further rate cuts.

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