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RBI has announced that for the week ending September 11, bank credit jumped by 5.26 percent to 102 lakh crore INR. Deposits jumped by nearly 12 percent to Rs 142 lakh crore.
RBI has left key rates unchanged in its latest policy meeting. Many market experts were expecting RBI to keep the rates unchanged and this is more in line with market expectations.
Finance Minister Nirmala Sitharaman said that authorities will make sure that public sector and private banks pass on the benefits of rate cuts to consumers.
