MUMBAI: Following the enhancement of banks’ cash reserve requirement (CRR) by the Reserve Bank of India, Indian Bonds yield has ascended to ten months’ highest.Indian 10-year Federal Bond today seen traded at 8.21 percent, which is at its highest since June 2007. Indian Central Bank had increased the banks’ cash reserve requirement by 50 basis points. Analysts said that Rs185 billion would be siphoned off from the banking system, following the enhancement in CRR. The analysts are not ruling out further raise in CRR in the days to come.
via geo
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