All eyes are on Reserve Bank of India’s mid-quarter review of monetary policy today, expected that due to inflation chances of key interest rates to be remained unchanged in the policy review.
The repo rates and reverse repo rate remains unchanged at 8 per cent and at 7 per cent.
While experts indicated, govt is likely choose cut the cash reserve ratio (CRR), the portion of deposits banks have to mandatory park with RBI unchanged at 4.25 per cent that help to tighten the liquidity. Read more
After unveiling the mid-quarter review of the monetary policy by Reserve Bank of India (RBI) Governor D Subbarao, a much disappointing wave spread among the marketers, but a strongest attack in appositive move toward inflation.
RBI’s policy brings unchanged repo rates while cut off CRR, cash reserve ratio by 25 basis points from 4.75 per cent to 4.50 per cent, allowing banks to keep more cash and downing their lending rates, improving investments. Read more
Friday is a surprising day for bankers and financial institutions as the Reserve Bank of India (RBI) tighten the markets by reducing the cash reserve ratio (CRR) by a huge basis point of 75 to 4.75% from 5.5%.
CRR is defined as that portion of deposits which banks have to compulsorily keep with the bank for facing uncertainty.
As per RBI new policy, CRR is more than a liquidity measure ease as CRR cut releases Rs48,000 crore back to banks. It facilitates the more than Rs20, 000 crore of advance tax that companies will have to pay by March 15. Read more
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