A crucial and out of expected step has taken by Reserve Bank of India regarding basic points reduction of bank’s interest rate that has accepted by businessmen and the finance minister. It is of the first time in three years that RBI cut of rate repo.
In his statement, RBI Governor Duvvuri Subbarao told that the bank had decided to raise economic growth through a 50-basis-point cut in interest rates. This is unexpected by marketers and investors who had seemed a 25-basis-point cut from government officials. Read the rest of this entry…Comments Off