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Readings: RBI hike, Dr Doom, Hedge funds vs. Exchanges

Posted on June 24, 2008

Business Standard: RBI s double whammy makes India Inc see redRBI raised the repo rate, or the rate at which it lends to banks, by 50 basis points to 8.50 per cent. The cash reserve ratio, or the proportion of deposits kept with the central bank, will be increased by 50 basis points to 8.75 per cent.While the repo rate has been increased to 8.50 per cent with immediate effect, the CRR hike will be implemented in two phases: To 8.50 per cent from the fortnight starting July 5, and to 8.75 per cent from July 19.. . . aggregate deposits rose 23.2 per cent year-on-year on June 6 against the indica...

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