RBI kept rates unchanged

The Reserve Bank of India (RBI) has reviews its policy as per the schedule. The RBI did not change the CRR, repo rate and reverse repo rate. Indian industrialist have expressed their dissatisfaction over the unchanged in the rates.

There were speculations by industrialists experts that RBI could change the its rates in order to infuse money into the system. RBI had failed to avail of the opportunity to provide stimulus to the Indian economy by infusing extra money in the system through interest rate cuts, says FICCI.

Confederation of Indian Industry said, many sectors, including manufacturing sector were seeing a decline and there were no sign of reversal in the slowdown. However, the credit policy is not changed by the RBI but it may take stake of the situation before changing any policies in future.