RBI ANNOUNCED SECOND QUARTER REVIEW OF MONETARY POLICY 2009-10

RBI has announced its second quarter review of monetary policy 2009-10 on 27.10.2009, keeping the repo rate, reverse repo rate and the CRR unchanged while increasing the SLR from 24% to 25%.

As per the reports, the increase of SLR by1% will not have much impact on the banks on liquidity front as most of the banks hold government securities in excess of the requirement.

A link to the full text of press release by RBI is provided here.

Link: http://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=21577