Surprisingly RBI Leaves the Interest Rate Unchanged at the stage of Cash Crunch In India
NEW DELHI: Despite the possibility of development being affected because of the devastating money mash since the cash boycott, the Reserve Bank of India (RBI) left the key repo rate unaltered at 6.25 %, to hold swelling in line. The repo rate is the interest rate at which the RBI loans to banks. Most investigators expected a rate cut of 25 basis points, to 6 %. (100 bps measures up to one rate point.) In any case, banks got a noteworthy liquidity support with the central bank pulling back the…
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