And we nurture and maintain a network of representatives and representative offices in many countries around the world.
In response to the knock-on effects of the global economic crisis on the Indian economy, between October 11, 2008 and June 29, 2009 the Reserve Bank reduced CRR by a cumulative 400 basis points to 5.0 per cent of NDTL (injecting thereby Rs.1.6 trillion to the banking system), lowered repo rate by 425 basis points to 4.75 per cent from 9 per cent, and adjusted the reverse repo rate downwards by 275 basis points from 6.0 per cent to 3.25 per cent.