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Credit squeeze: Auto cos take beating
The RBI's 50 basis point hike in the CRR will suck out an estimated Rs 15,500 crore from the system.While it may not have any impact on the interest rate its impact on some sectors was felt immediately.The auto sector took a beating right after the policy decision was made public at 12:00 O' clock. A clear indication that investors expect auto demand to be dented by even a small credit squeeze.
