New Bank updates: revised repo rate RBI

Hiked by RBI in Repo rate, reverse repo rate; All loan EMIs  go high.

 Main Highlights are:

 

• All loans are become costlier, with the Reserve Bank on Friday sept 16 , 2011 hiking the key interest rate for the 12th time since March, 2010, by 25 basis points in order to slow down the high inflation( in double digits). 

• The short-term lending (or repo) rate (in which banks borrow from the RBI) stands increased to 8.25 per cent and the short-term borrowing (reverse repo) rate ( which banks park their funds with the RBI ) to 7.25 per cent. 

  Remember in point of  GK updates: 

  • The new RBI POLICY ARE:

  •   UPDATED ON SEPT 16,2011

     BANK RETE:  6.0%

    REPO RATE: 8.75%

    REVERSE REPO RATE: 7.75%

     

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