Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2011-07-26

RBI hikes rates again

RBI hikes rates again

India's Central Bank sharply hiked key rates by 50 points,  making the repurchase rate and the interest rate on short term borrowing 8 percent from 7.5 percent and reverse repurchase rate or interest paid on short term lending, raised to 7 percent from 6.5 percent

The rate hikes were affected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.

While the rate hike was expected, the quantum of increase shocked the markets, which saw the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) dip to 18,588.64 points, to log a loss of 282.65 points or 1.5 percent over the previous close.

The situation was no different at the National Stock Exchange, where the broader S&P (Standard and Poor's)CNX Nifty was ruling at 5,591.25 points, with a fall of 89.05 points, or 1.57 percent. All sector-specific indices at the two bourses were also down.

On growth, the Reserve Bank governor said amid a slowdown in the factory output growth, the robust export performance should bode well, but the performance of monsoon so far could exert pressures on the yields of coarse grains, pulses, oilseeds and cotton. The rates will only add to the woes of borrowers but then there is no escape.

Related opportunities
  • Bakery & Confectionary
    About Us: Fini Sweets is the biggest Spanish manufacturer and distributor..
    Locations looking for expansion Delhi
    Establishment year 1970
    Franchising Launch Date 2019
    Investment size Rs. 10000 - 50 K
    Space required 04
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • Tea And Coffee Chain
    About Us: Stark Bistro is an effervescent & lively cafe with..
    Locations looking for expansion Orissa
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bhubaneswar Orissa
  • Bike Reselling
    About Us: Introducing your very own Pre-owned two-wheeler destination. Now get rid..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us:  At LongLive Pizza, our aim is to make a..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 200
    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