HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  


Search:



The Web

Rediff









Business
Portfolio Tracker
Business News
Specials
Columns
Market Report
Mutual Funds
Interviews
Tutorials
Message Board
Stock Talk



Home > Business > Reuters > Report

Jalan says no urgency to review bank rate

March 03, 2003 14:52 IST

Reserve Bank of India governor Bimal Jalan said on Monday there was no urgency to review the central bank's stance on the bank rate as announced in its October credit policy statement.

"There is no greater urgency in it," Jalan said when asked whether the central bank would review its stance on the bank rate.

Jalan said the central bank's soft rate bias continued "as of now" and inflation was not putting pressure on rates.

Asked about the 2003-04 Budget, Jalan said, "I like it very much." He declined to comment on specific proposals.

India's central bank on Friday cut its key repo rate by 50 basis points to five per cent-- its third reduction this fiscal year to March--after the government announced it was lowering returns on some saving schemes by a percentage point.

© Copyright 2003 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.



Article Tools

Email this Article

Printer-Friendly Format

Letter to the Editor



Related Stories


RBI may not push for more rate cuts

RBI favours soft rates bias: Jalan

Rates on savings schemes may be cut



People Who Read This Also Read


Banks may put off rate cuts

LPG prices may go up by Rs 22-25

Reliance raises product prices







HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  
© 2003 rediff.com India Limited. All Rights Reserved.