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2:03 AM
RBI new Governor Raghuram Rajan presented much awated his maiden policy meeting today with an unexpected decision to hike interest rates,and hiked the benchmark interest rate from 7.25 to 7.50% at a mid-quarter policy review in Mumbai.
after this announcement Stock marked crashed and BSE Sensex and NSE Nifty fell more than 2 % and Bank nifty fell more than 6 %...because all traders/investors and Economists had expected the RBI to leave the repo rate unchanged. and rate cut in CRR.
The Reserve Bank announces the following policy measures -
Rapo Rate- Hiked by 0.25 pc at 7.50 per cent.
Reverse Repo Rate-the reverse repo rate under the LAF, determined with a spread of 100 basis points below the repo rate, stands at 6.25 per cent
Marginal Standing Facility (MSF) Rate- Borrowing rate for banks reduced under MSF by 0.75 pc to 9.5%.
Cash Reserve Ratio(CRR)- CRR also unchanged at 4.0%.
Eases minimum daily liquidity maintenance of CRR to 95 pc from 99%..
after this announcement Stock marked crashed and BSE Sensex and NSE Nifty fell more than 2 % and Bank nifty fell more than 6 %...because all traders/investors and Economists had expected the RBI to leave the repo rate unchanged. and rate cut in CRR.
The Reserve Bank announces the following policy measures -
Rapo Rate- Hiked by 0.25 pc at 7.50 per cent.
Reverse Repo Rate-the reverse repo rate under the LAF, determined with a spread of 100 basis points below the repo rate, stands at 6.25 per cent
Marginal Standing Facility (MSF) Rate- Borrowing rate for banks reduced under MSF by 0.75 pc to 9.5%.
Cash Reserve Ratio(CRR)- CRR also unchanged at 4.0%.
Eases minimum daily liquidity maintenance of CRR to 95 pc from 99%..
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