RBI cuts key rates by 25 bps

Share post:

The Reserve Bank of India (RBI) has cut has cut repo rate and reverse repo rate by 25 basis points. The RBI’s decision today left the cash reserve ratio (CRR) unchanged. After today’s decision, the repo rate stands at 3.25 per cent while reverse repo rate stands at 4.75 per cent. It has said that there is room for banks to cut lending rates and has asked banks to review their benchmark prime lending rates (BPLR). A committee has now been formed to review the BPLR system. 
India’s central bank said today that it expects FY10 GDP growth to be at 6 per cent. This is a further scaling down from the FY09 GDP growth target of 7 per cent. Its statement said that credit growth in the current financial year (ending March 2010) could touch 20 per cent while deposit growth is estimated at 18 per cent. Read More

Austin K
Austin Khttps://www.megri.com/
My Name is Austin K. I work as Digital Marketing Professional at Megrisoft Limited London Office. I am blogger and write on topic of News, Technology and Travel. I love Starbucks.

Related articles

The Fundamentals of Horse Jumping

When looking for a horse jumping course, you'll want to be sure that it offers a good selection...

3 Reasons Why You Need Residential Moving Services

There are several reasons you should hire a residential moving service to help you with your move. It...

Is It Time for You To Switch From VHS to DVD?

Many people are hanging onto their memories in VHS form. While there is nothing inherently wrong with that,...

5 Useful Tips For Owners Of Online Fashion Businesses

Even while it can take a lot of time and effort to get rid of old or new...