Live! Sensex tanks 500 points after Raghuram's policy review

September 20, 2013 11:29

So, Reserve Bank of India's new governor Raghuram Rajan's first policy review is underway. He is faced with the "impossible trinity" of a weak rupee, rising inflation and slowing growth.

What we have so far: The RBI reduces borrowing rate for banks (MSF) by 0.75 per cent to 9.5 per cent. RBI eases minimum daily liquidity maintenance of cash reserve ratio (CRR) to 95 per cent from 99 per cent. Rajan says inflation is worrisome, there is no room for complacency.

Markets have tanked. Sensex down by 500 points.

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