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RBI keeps repo rate unchanged at 8%

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The Reserve Bank of India on Tuesday kept its repo rate unchanged at 8 per cent but cut its statutory liquidity ratio by one percentage point to 23 per cent. Repo, short for repurchase, is the rate at which banks borrow money from the Reserve Bank of India. Statutory liquidity ratio, or SLR, is the percentage of deposits that banks must keep invested in government securities.

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