“I just hope the good work done by the previous RBI Governor Y.V. Reddy to keep financial markets in India on even keel is not reversed in these 15 days of CRR and repo rate cuts by as much as 250 basis points and 150 basis points respectively,” said Jagannadham Thunuguntla, head of the capital markets arm of India's fourth largest share brokerage firm, the Delhi-based SMC Group.