Reserve Bank of India(RBI) has announced its credit policy for the fiscal year 2009-10. Credit policy is the estimation of the overall economic growth and various other sectorial growth for the impending fiscal year. The economic growth is expected to be 6% in 2009-10 and inflation could go to negative levels in the first half of the year and then gradually limp back to positive WPI infaltion levels.
Sensex response with losses after RBI policy. The RBI today in its annual credit policy review has cut repo and reverse repo rates by 25 basis points. The central bank, however, has kept the CRR unchanged at 5%.
the index is now down 151 points at 10,828. Earlier in the day, the index opened with a negative gap of 214 points at 10,765, but recovered and touched a high of 10,926.
ITC, however, has gained 1.5% at Rs 187. reports business-standard
check out Annual Policy 2009-2010
Annual Policy Statement for the Year 2009-10 get Annual Policy Statement for the Year 2009-10 By Dr. D. Subbarao Governor