RBI reserve bank of india hikes CRR

RBI Outlook is better than the brokerages prediction.
  • INDIA'S ICICI BANK SAYS WILL WAIT AND WATCH BEFORE DECIDING ON CHANGES TO LENDING RATES
  • RBI AIMS TO BRING INFLATION CLOSE TO 5 PCT AS SOON AS POSSIBLE
  • RBI AIMS FOR INFLATION OF 5.5 PCT IN 08/09
  • SENSEX CONSOLIDATES GAINS TO 1 PCT AFTER RATE PAUSE NEWS
  • RBI LEAVES ALL OTHER RATES UNCHANGED, INCLUDING REPO, REVERSE REPO
  • RBI RAISES CASH RESERVE RATIO BY 25 BPS TO 8.25 PCT, EFFECTIVE MAY 24
  • BERGER PAINTS SAYS TO ACQUIRE POLISH FIRM FOR $38.6 MLN
  • PM SINGH SAYS SUSTAINING GROWTH IN A NON-INFLATIONARY ENVIRONMENT REMAINS A CHALLENGE
  • SENSEX OPENS UP 0.21 PCT, NIFTY 0.02 PCT UP
  • BOND YIELDS EASE AS RATE PAUSE VIEW GROWS
  • SESA GOA ANNOUNCES 10 FOR 1 STOCK SPLIT, 1 FOR 1 BONUS SHARE
  • JAPAN'S NIKKEI UP 0.22 PCT, HANG SENG UP 1.1 PCT
  • DOW JONES, NASDAQ CLOSES ALMOST FLAT

How did the markets react immediately?
Check market reaction on CRR Hike of 10 basis points is surprising

What is CRR/ Cash Reserve Ratio?
Cash reserve Ratio: (CRR) is the amount of funds that the banks have to keep with RBI

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