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Nifty breaks the lower level of 5630 and trading at lower circuits. Market sentiments are not good for sectors like PSU Banking, Infrastructure.
RBI cuts CRR by 0.25%; keeps policy rates on hold
The Reserve Bank on Tuesday slashed the Cash Reserve Ratio (CRR) by 0.25 percent - the percentage of deposits banks keep with central bank - but refrained from reducing lending rates in view of high inflation.
Following the cut, CRR will now come down to 4.25 percent while the repo rate, at which the central bank lends to the banks, would remain...
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Finance Minister P. Chidambaram appeared disappointed over the RBI move and said the government would walk alone to face the challenge of growth.
The Reserve Bank of India (RBI) Tuesday cut cash reserve ratio (CRR) for banks by 0.25 percent but kept interest rates unchanged, despite pressure from the government.
Stock Tips for short term holding by optiontips.in
EID Parry
Current: 225
Stop Lose: 215
Target:
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http://www.kyachadega.com/2012/10/rbi-vs-fm-by-optiontipsin.html
The market will decide the slightly upward or slightly downward trend after RBI would announce its credit policy by optiontips.in.
Ahead of the Reserve Bank's monetary policy review on Tuesday, bankers today said the central bank should focus more on growth as the country cannot afford economic expansion of below 5 percent.
"The RBI could give a signal because it does not want growth to come below 5 percent"
Stock Tips for today by optiontips.in
For Medium to Long Term prospective
Buy Mahindra and Mahindra
Recommended Price: 890
Target:
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http://www.kyachadega.com/2012/10/nifty-remains-in-range-bound-of-5630.html