RBI cuts CRR before monetary policy which comes on 15th march but here all expectation is 50 bps but RBI cut it 75 bps to 4.75% and surprised to all. By this action industry get at least 48K crore in system. I think this is the right time to cut CRR because most of financial sector suffer to pay advance tax because of liquidity and they borrow money at higher rate. They all are relax by CRR cut.
Market expert welcome RBI decision it also help to market boost a new level i hope market touch at least 18800 level very fast by CRR cut because it is more than expectation.
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