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September 20, 2013

Rajan Raises the Repo Rate and Reduced the MSF in his first Monetary Policy Review

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To fight the inflation, the new RBI Governor Mr. Raghuram Rajan reduced the MSF rate by 75 basis points to 9.5% from 10.25% and increased the key repo rate to 7.5% he kept CRR unchanged in his first monetary policy review after taking over as the RBI governor .  This measure was taken to tighten liquidity and arrest volatility in the foreign exchange market. The RBI also reduced the minimum daily maintenance of the cash reserve ratio from 99% of the requirement to 95%. RBI said that any further change in the minimum daily maintenance of the CRR is not contemplated.

You can check the Current rates of RBI with explanations from here

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7 comments:

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