Business Daily from THE HINDU group of publications
Friday, Nov 20, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Friday, Nov 20, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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RBI & Other Central Banks Industry & Economy - Economy RBI should act early on inflation: Rangarajan Our Bureau Hyderabad, Nov. 19 Given the current inflationary pressures, the Reserve Bank of India may have to act earlier than its counterparts in the Europe and US in taming the situation, according to Dr C. Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister. Delivering Dr Burgula Ramakrishna Rao Endowment Lecture on the current economic scene here on Thursday, Dr Rangarajan said the policy makers should be vigilant to the fact that the “highly accommodative and expansive” monetary stance created due to exceptional circumstances needed to be phased out.” “Bank credit to the commercial sector was sluggish. Up to the fortnight ended September 11, 2009 non-food credit was up only by 1.8 per cent on a year-to-date basis, the lowest in five years,” he said. In the days to come, the deposit re-pricing by commercial banks and a more stable situation was also likely to see banks push up lending, he added. Negative inflation may pose dilemma for RBI on key policy rates RBI sees inflation at less than 3% by March More Stories on : RBI & Other Central Banks | Economy
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