Wednesday, June 25, 2008

RBI hikes key rates by 50 bps

Challenged by unrelenting inflationary pressures, Reserve Bank on Tuesday announced stringent measures of hiking mandatory cash reserve of the banks and its short-term lending rate to them to suck up an estimated Rs 20,000 crore. According to analysts, the move could make loans dearer for housing, car and personal expenses as also to the industry.

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