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Government welcomes the RBI Policy statement: CEA
Jul 31, 2013
MUMBAI: The Reserve Bank of India (RBI) came out with its policy statement on Tuesday. The RBI left policy rates on hold. Dr Raghuram Rajan, Chief Economic Adviser (CEA), Ministry of Finance said that RBI policy saw the main immediate macroeconomic task as that of stabilizing the rupee, and believes that once the rupee is stabilized, the policy makers will have room for more growth friendly measures.
RBI keeps rates unchanged, developers disappointed
Jul 31, 2013
MUMBAI: The RBI’s decision to keep the key rates unchanged is letting the entire industry, in general, and housing industry, in particular, down considering the slowdown in the economy and the low investor sentiment in the real estate market. The repo rate or the rate at which RBI lends to the system, has been retained at 7.25 per cent and the cash reserve ratio, the amount of deposits banks park with RBI, has been kept unchanged at 4 per cent. Industry experts and developers expressed disappoin

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