~
The Reserve Bank of India has kept its benchmark lending and borrowing rates on hold in its quarterly policy review. It has also kept the cash reserve ratio (CRR), (the proportion of deposits banks have to keep with the RBI in reserve) untouched at 5 per cent.
Opting to support a nascent economic recovery instead of tackling rising prices, the central bank left the repo rate (at which it lends short-term funds to banks) at 4.75 per cent, and the reverse repo rate (through which it absorbs liquidity from the banking system), at 3.25 per cent.
It has, however, revised the inflation target to 6.5 per cent from 5 per cent. It has also hiked the SLR from 24 per cent to 25 per cent. The FY10 GDP growth rate remains at 6 per cent.
The inflation rate accelerated to more than 1 per cent for the week ended October 10. This had fuelled speculation that the bank may act to curb mounting price pressures.
Higher prices caused by increasing food costs after a poor monsoon, along with the fragile economic recovery, has confronted the central bank with a dilemma about when to take the first steps to tighten monetary policy.
~ET
At Sampark Online Finserv LLP, we provide financial advice and distribute various investment products with the most efficient & widest range, customized specifically to your NEEDS..@ Whether you are keen on small investments or playing it big, We provide financial advice and distribute various investment/financial products with the most efficient & widest range, customized specifically to your NEEDs.
Subscribe to:
Post Comments (Atom)
Popular Posts
-
Those Who Joyfully Leave EVERYTHING IN GOD'S HAND Will Eventually See GOD'S HAND IN EVERYTHING WORRY ENDS, WHERE FAITH BEGI...
-
Dec 03, 2009 सोने का नया रिकॉर्ड सोना जबरदस्त रफ्तार से दौड़ रहा है। हर रोज नए रिकॉर्ड बन रहे हैं। पिछले 15 दिनों में ही हाजिर बाजार में इ...
-
A TO Z OF INCOME TAX PROVISIONS AT A GLANCE: 1. Detailed information of Income Tax is available on www.incometaxindia.gov.in 2. As per...
-
Gold has always fascinated us Indians but do you know how prices of gold have varied in India. I happen to visit RBI website which pub...
-
8 MILLIONS CHILDREN ARE NOT IN SCHOOL : THE POWER OF YOUR WORDS CAN HELP CHANGE THEIR LIVES .. JOIN THE MOVEMENT NOW
-
Insurers, it seem, believe that getting a family insured together is the best way to address the healthcareconcerns of people. Also, it...
-
What is a Systematic Investment Plan (SIP)? SIP is a method of investing a fixed sum, regularly, in a mutual fund. It is very similar ...
-
SAMPARK 75(193), G. T. ROAD RAMBANDHU TAKAW OPP-CHOWALAL SCHOOL ASANSOL-713303, (W.B),INDIA JALAN BHAWAN 52 N.S.ROAD...
-
Reasons to avoid multiple bank accounts: Try and stick to two, one for general purpose and another for your savings & invest...
No comments:
Post a Comment