Beyond a baby step

The Reserve Bank of India's (RBI) move to reduce the cash reserve ratio (CRR) of banks from 6 per cent to 5.5 per cent of their net deposits and other liabilities is a welcome baby step towards a much-overdue reversal of a two-year-long hawkish monetary policy stance. The cut would release an estimated Rs 32,000 crore of money for banks to lend, which they were to otherwise keep as reserve with the RBI. 

Read Full Story>>