September 17, 2012 / 3:28 AM / 5 years ago

TAKE A LOOK-India holds rates, focus stays on inflation

India's central bank kept interest rates unchanged on Monday but cut the
cash reserve ratio for banks, saying the primary focus of monetary policy
remains fighting inflation, days after the government unveiled a spree of
reforms to boost growth and improve its fiscal position.
    The Reserve Bank of India left the policy repo rate at 8
percent, in line with expectations in a Reuters poll on Friday before the
government unexpectedly announced measures to allow foreign direct investment in
industries including supermarkets and airlines. 
    It cut the cash reserve ratio, the share of deposits banks must
keep with the central bank, by 25 basis points to 4.5 percent in a move it said
will inject about 170 billion rupees ($3.12 billion) of liquidity into the
banking system. 
    On Thursday, the government announced a sharp increase in the price of
heavily subsidised diesel.  
    For detailed stories, double click in brackets: 
 
 LATEST
>India central bank leaves interest rates unchanged, cuts CRR    
>INSTANT VIEW-Cbank holds rates, focus remains on inflation      
>HIGHLIGHTS-India cbank keeps rates unchanged, lowers CRR        
>"Big bang Friday" reforms might just stick                      
>What else could Manmohan Singh reform?                          
 
 EARLIER
>After months of inertia, India unveils big bang reforms         
>PM warns against policy logjam; reforms draw protest            
>India tackles fuel subsidies to ward off downgrade              
>Industrial output barely grows, investment weighs               
>Manufacturing growth eases to nine-month low in August          
>Economic growth languishes, worst may be over                   
>Morgan Stanley cuts India growth forecast to 5.1 pct in 2012/13 
 
 ANALYSIS
>What slowdown? For some firms, India's economy still humming    
>Poor returns cast cloud over BRIC equity funds                  
>Baby steps to India bank reforms unlikely to bring cheer        
>Balancing act for India in overhaul of archaic land law         
>India's shopping malls lose bustle as economy cools             

 (Compiled by Ranjit Gangadharan)

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