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RBI hikes key rates by 50 basis points; keeps CRR unchanged
| 03/05/2011 11:24 AM |
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The Reserve Bank of India (RBI) in its monetary policy for 2011-12 raised the repo rate and reverse repo rate by 50 basis points to 7.25% and 6.25%, respectively. It also increased the interest on saving bank deposits to 4%, from the earlier rate of 3.5%. However, the central bank kept the cash reserve ratio (CRR) unchanged at 6%.
More details awaited…
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Do agree to it, see the Sensex steeply rising one day w/o basis and falling in the same way. Better stay put it i.. CA PRADEEP AGARWAL
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