Top news for today

Home loans may become chepear for some catagories
The fact that RBI hiked the CRR by 25 basic point is well known but there were also some silver linings in the policy. One was that RBI has reduced the risk weight -the amount of capital set aside for a loan--on home loans above Rs 20 lakh and upto Rs 30 lakhs to 50 per cent from 100 per cent earlier. This move now gives headroom to the banks to pass on the benifit to the comsumers. The move is likely to benifit the upper middle class consumers. Some bankers are expecting this to have an effect of 50 basis points on the interest rate.
RBI leaves repo rates unchanged
This was the worst fear the market had for today but surprisingly Mr Reddy did not hike the repo rate. This could be because the banks are already having surplus funds and wont need to borrow much from RBI. So leaving them unchanged he sent a feeling of relief in the market and the market rallied on the news closing by over 350 points.
Controlling inflation
The govt may be taking all possible measures to control inflation and the latest measures taken by reducing customs duty on raw materials and imposing export duty on finished goods for the steel sector is just one such move,however the industry heads have a different view. They feel that steps should be taken to increase supply by adding more capacities rather than imposing curbs to control inflation.