M Narendra

RBI not changing interest rates prudent: IOB chairman

M-NarendraChennai, Dec 18 : The RBI's decision to leave interest rates unchanged in its mid-quarter monetary policy review was a "prudent move", Indian Overseas Bank (IOB) chairman M. Narendra said Wednesday.

"The RBI's action to pause on policy rates is a welcome and prudent move at the present juncture," Narendra said in a statement.

"Money market conditions are likely to continue at the present level for the time being. The bond yields are likely to soften with an eye on future data," he added.

RBI expected keep repo unchanged and cut CRR in upcoming monetary review

RBI expected keep repo unchanged and cut CRR in upcoming monetary review The Reserve Bank of India (RBI) is widely expected to cut the Cash Reserve Ratio (CRR) by 25 basis points while keeping the repo rate on hold in its monetary policy review on Tuesday.

Repo, which currently stands at 8 per cent, is the rate at which the central bank lends money to the banks. CRR, which is currently at 4.25 per cent, is the portion of deposits that banks have to keep with the central bank.

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