Making a strong case for delaying the withdrawal of accommodative monetary stance of the Reserve Bank of India, some of the bank heads who met Governor D Subbarao in the customary pre-credit policy meeting said credit growth might fall short of the central bank’s projection of 20 per cent.“We said the RBI that loan growth for the current year may be around 15-16 per cent
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The ministerial panel on fuels under finance minister Pranab Mukherjee deferred a decision on either allowing oilmarketing companies to set pump prices in tune with international trend or simply raise petrol and diesel prices to reduce losses of state-run companies, ostensibly because key members could not attend the meeting on Monday. Read the rest of this entry »
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