172@29@17@247!~!172@29@0@53!~!|news|business|economy|-2078517.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
FREE virtual training session on Passive Income Secrets: October 24 and 25, 2020, 10am to 1pm. Register Now!
Last Updated : Jun 16, 2011 05:48 PM IST | Source: Moneycontrol.com

Reserve Bank ups repo, reverse repo rates by 25 bps each

Continuing with its anti-inflationary stance, the Reserve Bank of India (RBI), in its mid-quarter policy review, hiked repo and reverse repo rates by 25 basis points (bps) each.


Continuing with its anti-inflationary stance, the Reserve Bank of India (RBI), in its mid-quarter policy review, hiked repo and reverse repo rates by 25 basis points (bps) each.


This takes repo (rate at which it lends to banks) to 7.5% and reverse repo (rate at which it borrows) to 6.5%. This is in line with a CNBC-TV18 poll.


The cash reserve ratio (amount of funds that banks have to keep with RBI), however, has been left unchanged at 6%.


What did RBI do on May 3?

While announcing the policy RBI Governor, Duvvuri Subbarao today said the domestic growth outlook remained unchanged and that inflation was way above the bank

First Published on Jun 16, 2011 11:58 am