|Chennai||Rs. 24470.00 (1.37%)|
|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
|Kolkata||Rs. 24160.00 (0%)|
|Kerala||Rs. 24000.00 (0.63%)|
|Bangalore||Rs. 23800.00 (0%)|
|Hyderabad||Rs. 24140.00 (1.17%)|
Unveiling is third quarter monetary policy review, the Reserve Bank of India has cut repo rate by 25 basis points to this morning. The Cash Reserve Ratio has been reduced by 25 basis points to 4% resulting in an infusion of around Rs 18,000 crore into the banking system. GDP growth projection has been lowered to 5.5% from the earlier forecast of 5.8%.
The market, which rebounded into positive territory immediately after the rate cut announcement, has retreated slightly subsequently with investors turning cautious once again.