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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.
Amid confliction whether to hold the higher interest rates or cut them to decline inflationary crisis, the Reserve Bank Of India is under much pressure. On Monday, it said that the decision has come after reviewing the quarterly monetary policy on Tuesday, may be balanced the status quo on interest rates.
It expected that RBI will keep its rates unchanged, a much disappointment today for Industry honchos and bankers.
