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Reserve Bank of India (RBI) has kept the key rates like cash reserve ratio (CRR), repo rate and reverse repo rates unchanged in its mid-term credit policy that was released by the central banker of India today.

Rbi Credit Policy The Reserve Bank of India (RBI) Credit Policy

Reserve Bank of India (RBI) Governor D. Subbarao will conduct the third quarterly review of the monetary policy for this fiscal on Friday amid fears that the cash reserve ratio (CRR) may be hiked to suck excess liquidity and tame inflation.The review also comes against the backdrop of policy makers contemplating the roll back of fiscal stimuli announced since December 2008 to help the Indian economy face one of the sharpest downturns in the global economy in eight decades and the financial crisis.

Shares of fourteen banks gained 0.05% to 6.23% at 12:21 IST on BSE on speculation the central bank will keep key policy rates unchanged at its quarterly monetary policy review next week.

Five years ago, in November 2003, ICICI Bank was offering home loans at 7.5 per cent interest rate. That was the time when key policy rates of the Reserve Bank of India (RBI) were at low levels and there was comfortable liquidity in the system.

The Reserve Bank of India on Friday increased mandatory cash reserve of banks held by it by 75 basis points in a bid to suck excess liquidity to combat rising inflation.However, short-term lending and borrowing rates between RBI and banks were kept unchanged,

Bangalore, Dec 29 (ANI): The Reserve Bank of India (RBI) Deputy Governor Shyamala Gopinath said here on Tuesday that it is closely monitoring the spiralling inflation, but would keep in mind the need to encourage growth before making changes to monetary policy.

Since the worst is over in so far as global financial crisis goes, the Reserve Bank of India (RBI) has promised to focus more on addressing the biggest challenges of the country’s financial system and push equitable growth.

The Reserve Bank of India (RBI) today said that it had concluded the purchase of 200 tonnes of gold from the International Monetary Fund (IMF), under the IMF’s limited gold sales programme.