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RBI cuts SLR, introduces new category of FDs

February 4, 2015EconomyOmkar Sawant

Reserve Bank of India cut statuary liquidity ratio (SLR) by 50 basic points. Now SLR is 21.5%. As a result of this move, banks will have their hand an additional Rs 42,000 crore to lend.

RBI

SLR is the portion of deposits that a bank must invest in government bonds.

Moreover, the RBI also introduced a new category of ‘unbreakable’ fixed deposits – an FD that cannot be withdrawn prematurely but will have higher interest rates.

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