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Business News- Times Now<http://forums.investorline.co.in/aggregator/sources/106>- Mon, 10/20/2008 - 21:24 p align=justifyRBI's move to cut short term lending rate, repo, will send important signal to banks to moderate interest rates and ease liquidity, the Planning Commission said today. brbrThis (repo rate cut) is a very important signal and I am sure that banks will read that signal and it will lead to more money being available and some moderation in interest rates, Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters after conference on public finance here. brbrHe said, the reduction in the short-term lending rate (repo rate) should be looked as a part of the package aimed at introducing liquidity in the system, which included cut in cash reserve ratio, introduction of flexibility in SLR, advisories given by the central bank to banks etc.brbrThe Reserve Bank today reduced repo rate by 100 basis points to 8 per cent to help banks seek funds from the central bank at lower rates against government securities and reduce lending rates. brbrRBI had earlier in the month slashed the Cash Reserve Ratio (CRR) by 250 basis points unlocking Rs 1 lakh crore. brbrAhluwalia said the government is watching the situation closely and would not hesitate to take more steps but as of now there in enough liquidity in the system. brbrThe call money rates, he added, are below seven per cent and now it should be ensured that the banks use the liquidity provided to them to make credit more freely avabilable.brbr(Agencies)/p Categories: Business<http://forums.investorline.co.in/aggregator/categories/4>, Capital Market <http://forums.investorline.co.in/aggregator/categories/5>, Corporate News <http://forums.investorline.co.in/aggregator/categories/11>, Economy<http://forums.investorline.co.in/aggregator/categories/12>, India <http://forums.investorline.co.in/aggregator/categories/43>, Industry<http://forums.investorline.co.in/aggregator/categories/20>, Inflation <http://forums.investorline.co.in/aggregator/categories/21>, International Business <http://forums.investorline.co.in/aggregator/categories/23>, International News <http://forums.investorline.co.in/aggregator/categories/24>, USA<http://forums.investorline.co.in/aggregator/categories/46> http://forums.investorline.co.in/ --~--~---------~--~----~------------~-------~--~----~ Get latest market updates & search internet right from your browser-download our toolbar here- http://investorline.ourtoolbar.com/ Visit our site at – http://investorline.co.in/ Newsroom: http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Newscatcher- http://catcher.investorline.co.in/ Interested in Financial Planning-Let us Contact you- http://spreadsheets.google.com/viewform?key=pb_z4f1_zGMg4iBBFT3-SWQ&email=true If you like the site then promote it here- https://www.freetellafriend.com/tell/?url=http://investorline.co.in/blogs/news Create your own free blog on- http://investorline.co.in/blogger Visit this group at http://groups.google.com/group/india-investor -~----------~----~----~----~------~----~------~--~---
