In Economy, What is meant by Bank rate and CRR?

In Economy, What is meant by Bank rate and CRR?
thank you.

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Dear Vineet,
Bank Rate - Bank Rate is the rate at which central bank (RBI) lends money to other banks or financial institutions. If the bank rate goes up, long-term interest rates also tend to move up, and vice-versa.

CRR -Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with RBI. If RBI decides to increase the percent of this, the available amount with the banks comes down. RBI is using this method (increase of CRR rate), to drain out the excessive money from the banks.

Bank rate
The interest rate that is charged by a country�s central or federal bank on loans and advances to control money supply in the economy and the banking sector. This is typically done on a quarterly basis to control inflation and stabilize the country�s exchange rates. A fluctuation in bank rates triggers a ripple-effect as it impacts every sphere of a country�s economy.

Cash Reserve Ratio (CRR)
The Cash Reserve Ratio (CRR) refers to the liquid cash that banks have to maintain with the Reserve Bank of India (RBI) as a certain percentage of their demand and time liabilities.

Bank rate: It is the rate at which RBI allows finance to other Banks.

CRR: It is the abbreviation for Cash Reserve Ratio ....RBI uses CRR either to drain excess liquidity or to release funds needed for the growth of the economy from time to time. Increase in CRR means that banks have less funds available and money is sucked out of circulation. Thus we can say that this serves duel purposes i.e.(a) ensures that a portion of bank deposits is kept with RBI and is totally risk-free, (b) enables RBI to control liquidity in the system, and thereby, inflation by tying the hands of the banks in lending money.

The interest rate that is charged by a country�s central or federal bank on loans and advances to control money supply in the economy and the banking sector. This is typically done on a quarterly basis to control inflation and stabilize the country�s exchange rates. A fluctuation in bank rates triggers a ripple-effect as it impacts every sphere of a country�s economy.