India Markets: Rate cuts

Wednesday, March 04, 2009

The RBI today cut policy rates: Repo rate down by 50bp to 5% and reverse repo rate down by 50 bp to 3.5%.

This was needed and I expect further cuts of 100 to 150 basis points.

India was growing at 9%, there were huge opportunities markets were overpriced....then why was ICICI bank chasing after nonsense around the globe?  After Lehman losses, credit default swaps losses we now have:

ICICI may have Russia trouble

You know what they say..a rising tide lifts all boats...seems the management of ICICI bank is poor...rising India made it look good...SHAME.

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