Hotline: 1800 102 2007
X
Search Business Opportunities
2011-05-03

RBI hikes rates again

To rein in inflation

India's central bank hiked its short-term lending rate by 50 basis points and said the borrowing rate shall now on be pegged 100 basis points below it in a major policy decision Tuesday.

The Reserve Bank of India (RBI) also hiked the deposit rate by 50 basis points to 4 percent, from 3.5 percent - a move that should bring some cheer to millions of savings bank account holders, who park cash for short durations with commercial banks.

Repurchase rate, or the short-term lending rate, now stands at 7.25 percent against 6.75 percent earlier, while the reverse repurchase rate, or the short-term borrowing rate, now automatically stands revised to 6.25 percent, against 5.75 percent.

RBI Governor D. Subbarao, who unveiled the monetary policy for this fiscal, before the chief executives of commercial banks at the headquarter's at Mint Street in mid-town Mumbai, said these policy decisions take immediate effect.

Other policy rates such as the statutory liquidity ratio and the cash reserve ration -- the minimum quantum of money against deposits which the banks have to retain as cash or specified government securities -- have been left untouched.

The bank rate also remains unchanged at 6 percent.

Related opportunities
  • About Us: Mahindra First Choice Wheels Ltd (MFCWL) is a part..
    Locations looking for expansion Maharashtra
    Establishment year 1999
    Franchising Launch Date 2003
    Investment size Rs. 30lac - 50lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai City Maharashtra
  • Women's clothing
    About: There is no doubt about the fact that India’s gen-next..
    Locations looking for expansion Karnataka
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Preschools
    About: KUALAKUBS is a venture of Geeta Group of Institutions- an..
    Locations looking for expansion Delhi
    Establishment year 1992
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 0
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • E-Commerce & Related
    About Us: Incepted in 1955 by Shri. Madhavrao Ashtekar, who hailed..
    Locations looking for expansion Delhi
    Establishment year 1955
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts