RBI has announced reduction in interest rates by reducing the repo rate and reverse repo rates by 100 basis points each. The repo rate is now 6.50% the lowest since JAN 2006 and the reverse repo rate drops from 6 to 5% , the lowest in 3 years. Reliefs were also announced for housing finance companies , exporters , SMEs. ( source 081208)
Thursday, December 18, 2008
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