As expected RBI bank satisfied the beggars with little money. But what I like about Dr.Subbarao is that he categorically said that the beggars should not come with begging bowls for every monetary policy.
The 'ready to sell wife for a rate cut' lobby is less vocal nowadays and in fact they are nowhere to be seen this evening apart from usual murmur.
Equity markets does not take this kindly and I think there will be some real correction hereafter. Some interesting possibilities.
News
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As promised SBI passed the benefit by reducing the base rate by 0.00000001%. That too for car loan and housing loan which is very important for the nation building.
PMEAC chairman while welcoming RBI move, hopes as usual that the worst is behind that and he expects RBI to cut rates at much faster rate. Please remember he is telling this for 'n'th time.
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