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RBI cuts CRR by 1%, repo rate by 0.5%

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    • Agencies Tags : RBI, CRR cut, repo rate cut, Posted: Saturday , Nov 01, 2008 at 1450 hrs
    RBI
    RBI effected yet another 100 basis points cut in CRR and a 0.5% reduction repo rate.

    Hailing the policy measures, bankers said that they would soon look at reducing their lending and deposit rates in the near future.

    Economists said the slew of measures would help to prop up growth, particulalry considering that the inflation has started falling drastically on the back of declining global crude oil and other commodity prices.

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    Welcome move by RBI to help economic growthBy: S.R.Ram | 01-Nov-2008 Reply | Forward It is a welcome move to infuge liquidity in the cash trapped economy. With this move,banks should be in a postion to financial needs of industry and agriculture for productive purposes and thus boost the growth impetus.Effective monitoring of the flow of credit to needy segments is essntial to get the desired growth impetus.
    RBI By: Praveen Gupta | 01-Nov-2008 Reply | Forward it is right decision taking at right time but SLR require some more reduction.
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