BSE Sensex crashes again, RBI slashes CRR to 7.5 %


Breaking News! The market tumbled again after the holiday. There is no respite for the investors, as BSE Sensex fell by over 620 points during the first hour of trading on Friday. Nifty too crashed by 150 points. The BSE Sensex was trading at 10.648 points at 11 AM, while the Nifty was trading at 3,347 points. The Indian Rupee has already hit a six-year-low of 48.00 against the US Dollar.

In a bid to save the market from further decline, the RBI has decided to slash the CRR (Cash Reserve Ratio) by 150 basis points to 7.5 percent from Saturday. It might be able to help the market to some extent. This is the highest one-time increase in the CRR. Meanwhile, the global market including that of the US continued to tumble, causing further impact on Indian market.

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