As of October 2024, the cash reserve ratio (CRR) in India is _____?
A4.5 %
B6.5 %
C10 %
D7.8 %
Answer:
A. 4.5 %
Read Explanation:
The cash reserve ratio (CRR) in India as of October 2024 is 4.5%
The Monetary Policy Committee (MPC) has decided to cut the cash reserve ratio (CRR) by 50 basis points (bps) to 4% from 4.5% while leaving the repo rate unchanged at 6.5%.
This comes at a time when India's retail inflation surged to 6.2% in October 2024, breaching the RBI's tolerance limit
