Published On: Thu, Sep 13th, 2012

Business /Economic Current Affair updates

Reserve Bank of India, in its quarterly review, announced a cut in the Statutory Liquidity Ratio (SLR) for banks by one percentage point, to 23% from 24%. The cut in SLR, which is essentially the proportion of deposits that banks invest in government bonds, will enable banks to shift money from low-yielding bonds to retail loans, resulting in some loans getting cheaper.

 

According to the latest figures, production of foodgrains in India, in 2011-12, was all-time high 257.44 million tonnes.

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