The Reserve Bank of India on December 6 has slashed cash reserve ratio (CRR) by 50 bps, which was on expected lines, leading to infusion of Rs 1.16 lakh crore into the banking system, but the central bank's Monetary Policy Committee (MPC) has decided with a majority vote (4:2) to maintain repo rate at 6.5 percent, for the 11th consecutive meeting (i.e. since February 2023) on December 6 while continuing with the neutral monetary policy stance.
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