RBI keeps policy rates unchanged, CRR cut by 25bps .........
The Reserve Bank of India(RBI) on Monday kept the repo rate unchanged in its mid quarter monetary policy review, but cut cash reserve ratio (CRR) by 25 basis point to 4.50 %.. The CRR cut will infuse Rs 1700 Cr in the banking system and it will hep to mitigate growth risks .
The Central bank's stance indicates that it is worried about the rise in inflation would happen due to diesel price hike . It will wait for some more time may be in the October policy review it might soften on its stance on interest rate.
Last week when Govt took some bold policy measures to allow 51 % FDI in Multi-Brand Retail & 49 % FDI in aviation , it has helped market recover some of the losses and Sensex has crossed 18000 mark with these policy reforms Now it was turn for RBI to support the govt to inject some positive pulse in the Market.
The Updated Key Rates are as follows:
- CRR: 4.50 %
- Repo Rate : 8.00 %
- Reverse Repo rate : 7.0%
- Marginal Standing facility : 9.0%
- Bank Rate : 9.0%
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