Reserve Bank Moves to Stimulate Economy March 10, 2012, 1:08 am "In a move meant to relieve growing stress in its financial system," India's central bank on Friday sharply reduced the amount of money banks have to hold in reserve, Vikas Bajaj writes in The New York Times. The action came ahead of a scheduled policy meeting at which the bank was expected to cut the reserve ratio, but less sharply, he writes. The Reserve Bank of India, which has struggled to control inflation for the last two years by raising interest rates, cut its cash reserve ratio by 0.75 percentage point, to 4.75 percent. Mr. Bajaj writes. The move will free up about 480 billion rupees ($9.5 billion) in money that banks can lend, the central bank said, significantly easing the flow of money in the Indian economy. Read the full story here.