RBI maintains status quo on interest rates

The Reserve Bank of India on Tuesday reviewed its credit policy. RBi did not change rates including CRR, repo and reverse repo rate. The unchanged in the credit policy has disappointed the industrial sector.

There were speculations that the RBI might change the credit policy in order to infuse more money into the system. The RBI kept unchanged the rates. However, the RBI is also cut the projection of growth rate to seven per cent only.

Any change in the rate policy would have impact on the economy. The change in the rates would give relief to the industries in India. As the economy has been affected due to the global financial crisis, but considering the impact the RBI kept the rates unchanged.