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Q4 Results Bharti-Sterlite-Indiabulls FY 2007-2008

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dividend Q4 report

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RBI increases CRR ratio by 50 basis points

In the light of the current macroeconomic, monetary and anticipated liquidity conditions, and with a view to containing inflation expectations, it is essential to take appropriate action on an urgent basis. On a review of current liquidity situation, it is considered desirable to increase the cash reserve ratio (CRR) of the scheduled commercial banks, regional rural banks (RRBs), scheduled state co-operative banks and scheduled primary (urban) co-operative banks by 50 basis points to 8.0 per cent in two stages, effective from specified fortnights as indicated below: Effective date ( i.e. , the fortnight beginning from) CRR on net demand and time liabilities (per cent) April 26, 2008 May 10, 2008 7.75 8.00 As a result of the above increase in CRR on liabilities of the banking system, an amount of about Rs.18,50

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