Banks lead slide on Dalal Street
The Dalal Street opened and then plunged off the top of Jeejeebhoy Towers and Chidambaram lost no time in blaming the Reserve Bank for its decision to hike the CRR that could suck out Rs 13,000 crore from the system. However, that doesn't tell the story. The markets were waiting for a trigger to correct and Reddy's hike was just the excuse.
