RBI Increases Repo Rate By 25 Basis Points
DSIJ Intelligence / 20 Sep 2013
In an unexpected move, RBI has raised the repo rate by 25 bps. The markets have turned highly volatile after this move.
Just a day after Fed announced 'Status Quo', RBI has also done unexpected by increasing the repo rate by 25 basis points. It also has reduced the marginal standing facility (MSF) rate by 75 basis points from 10.25 per cent to 9.5 per cent with immediate effect. The CRR has been kept unchanged. It however has reduced the minimum daily maintenance of the cash reserve ratio (CRR) from 99 per cent of the requirement to 95 per cent
More to follow...
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