Now, the supply side

On Tuesday, the Reserve Bank of India released its third-quarter review of monetary policy, and relieved the markets and many in industry by cutting the repo rate by 25 basis points to 7.75 per cent. In addition, the cash reserve ratio, or CRR, applicable to scheduled banks was cut by a similar margin to 4 per cent of their net demand and time liabilities – a step which will infuse an additional Rs 18,000 crore into the system.

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