RBI chief says repo, CRR cuts to ensure policy transmission
MUMBAI (Reuters) - RBI chief Duvvuri Subbarao said the simultaneous cut in the repo rate and the cash reserve ratio was to ensure transmission of monetary policy action into lending rates.
Subbarao was addressing a post-policy press conference after he earlier cut the repo rate by 25 basis points to 7.75 percent and the cash reserve ratio by an equivalent amount to 4 percent.
(Reporting by Neha Dasgupta; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- Israel warns of long Gaza war as Palestinian fighters cross border
- Cricket - Moeen probed after sporting 'Save Gaza' wristbands
- West agrees wider Russia sanctions as Kiev says forces near crash site
- Israel extends Gaza ceasefire for 24 hours, Hamas rejects terms
- UPDATE 2-Consumer Reports wants Toyota to recall older Camry hybrids
Indian conglomerate Larsen & Toubro said on Monday revenue totalled 191.23 billion Indian rupees ($3.2 billion) in the first quarter, beating analyst forecasts, after a rise in orders from international clients. Full Article