Monday, September 17, 2012

Positive step


The wholesale price based inflation for August moved up to 7.55% from 6.87% in the previous month. As inflationary tendencies have persisted, controlling it is the top most priority. Inflation risks still remain high; taking a cautious stance, Reserve Bank of India cut CRR by 0.25%, but refrained from reducing lending rates in view of high inflation. CRR cut would be effective from 22nd September.

The RBI decision, which comes days after a slew of measures taken by the government to push growth, will release `.17,000 crore of primary liquidity into the system. It is a positive move, as a mid-term policy it is very important.

Read lot more in Rubber4U – 1st October 2012 issue

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