Hi fellows
Happy Republic Day. RBI has announced its monetary policy and made some changes in Repo rate, Revere repo rate.
1. Repo Rate:It is the rate at which Reserve bank lend money to other banks.Previously it was 6.25%. It has beed raised now by .25% to 6.5%
2. Reverse Repo Rate: It is the rate at RBI borrows money from other banks. It
has been raised from 5.25% to 5.50%
3. Cash reserve ratio: No changes have beed made in CRR and it has been kept constant at 6%.
4. GDP forcast at 8.5% in 2010-2011
The changes have been taken in view of rising inflation rates and bring more liquidity in the market.
Cheers
Lalit Kumar
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