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April 17th, 2012
RBI cuts the repo rates..

New Delhi: In a first rate cut in 3 years, the Reserve Bank of India on Tuesday cut repo rate by 50 basis points to 8%.

The RBI cut the short term lending rate by 0.5% to 8%.

The RBI projected growth rate for the current fiscal at 7.3%.

The RBI retained cash reserve ratio at 4.75%.

The RBI cut bank rate by 0.5% to 9%.

The RBI expects inflation to be at 6.5% by March 2013.

The RBI pegged loan growth at 17% in the current fiscal.