MUMBAI 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)
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With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column