* State banks to raise US $750-1000m soon, * Foreign investments and exports could drive the economy
The Monetary Board of the Central Bank reduced the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of commercial banks by 1.50 percentage points to 6.00 per cent last week.To neutralise the impact of this reduction and maintain its neutral monetary policy stance, the Monetary Board increased the Standing Deposit Facility Rate (SDFR) of the...
