RBI says no to reduction in repo and reverse repo rates

its first quarter review of monetary policy for the fiscal year 2012-13 has decided not to change the key policy rates in the wake of high inflation. This stand of RBI has disappointed those who were expecting a reduction in their EMIs.THE REPO rate continues to stay at 8 per cent and the CRR at 4.75 per cent of net demand and time liabilities (NDTL) of scheduled banks.The reverse repo rate under the...

RBI keeps interest rates, CRR unchanged

its April-June quarter monetary policy on Tuesday left the key policy rates unchanged. However, it has cut the statutory liquidity ratio (SLR) to 23 per cent from 24 per cent earlier. This policy action was by and large in-line with CNBC-TV18 poll. Now, the repo rate or the rate at which banks borrow from RBI remained at 8 per cent while the reverse repo rate at which, the banks lend to RBI at 7 per...