In an attempt to gain control over the creeping inflation, RBI has made its monetary policy a bit more stringent, with most of the key policy rates remaining the same.
A hike of 100 basis points in the statutory liquidity ratio, while maintaining status quo on all other policy rates and reserve ratios have been the key points of the half-yearly review of the policy conducted by Reserve Bank of India (RBI) Governor D. Subbarao in Mumbai.
“As always, the Reserve Bank will endeavour to ensure price stability and anchor inflation expectations,” Governor Subbarao told the chief executives of commercial banks at the central bank’s headquarters in Mumbai.
“It bears emphasis that the Reserve Bank is mindful of its fundamental commitment to price stability. It will continue to monitor the price situation in its entirety and will take measures as warranted by the evolving macroeconomic conditions swiftly and effectively.”
RBI Hikes SLR To 25%, Key Rates Unchanged
In an attempt to gain control over the creeping inflation, RBI has made its monetary policy a bit more stringent, with most of the key policy rates remaining the same.
A hike of 100 basis points in the statutory liquidity ratio, while maintaining status quo on all other policy rates and reserve ratios have been the key points of the half-yearly review of the policy conducted by Reserve Bank of India (RBI) Governor D. Subbarao in Mumbai.
“As always, the Reserve Bank will endeavour to ensure price stability and anchor inflation expectations,” Governor Subbarao told the chief executives of commercial banks at the central bank’s headquarters in Mumbai.
“It bears emphasis that the Reserve Bank is mindful of its fundamental commitment to price stability. It will continue to monitor the price situation in its entirety and will take measures as warranted by the evolving macroeconomic conditions swiftly and effectively.”