RBI may cut CRR, postpone repo rate cut till rupee stabilises

.........."The RBI will understandably want to avoid controversy by cutting rates till the INR stabilises. Yet, we retain our 75 basis points (0.75 percentage points) RBI rate cut call for FY14," the report said, adding in its July 30 meet RBI is likely to skip rate cut to avoid any controversy. "We continue to expect the RBI to cut CRR the mandatory portion of cash banks have to park with RBI --by 25 basis points, on July 30, to revive growth, if INR volatility prevents it from cutting rates," ..................

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