|
|
|
|
|
Tuesday, July 27, 2010 (13:24:53) |
| Tags : RBI, India, Pranab Mukherjee, Rates, Inflation |
RBI rate hike will not affect India's growth |
|
|
|
|
|
|
|
| New Delhi, July 27: Just after India's Central Bank announced its decision to raise short-term key rates, Finance Minister Pranab Mukherjee made it clear that the Reserve Bank of India's decision will not affect India's growth.
While talking to the reporters, Mukherjee made it clear that this policy will ease inflation. Pointing out the fact inflation is already going down he added that new rates will keep us fully on track in terms of growth.
In its first quarter monetary review, RBI raised short-term lending rate by 0.25 per cent. The Central Bank also raised borrowing rates by 0.50 per cent.
The increase in repo rate (short-term lending rate) to 5.75 per cent and short-term borrowing rate (reverse repo) to 4.50 per cent will be made effective immediately.
Mukherjee advocated the idea of raising rates and asserted that this monetary policy is a calibrated measure. (IANS) |
|
|
|
|
|
|
|
|
|
| Post your comment |
|---|
| |
| | Reader Comments |
|---|
|
|
|
|
|
|
|
Email Story
Write to the editor
Print Story