TEA disappointed with Monetary Policy

摘要

Reserve Bank of India today (24.1.2012) released the Third Quarter Review of Monetary Policy 2011-12 and no changes have been made in the policy interest rates, Repo Rate and Reverse Repo Rate have been retained at 8.5% and 7.5% respectively. The only change has been made in the Cash Reserve Ratio (CRR) and it has been reduced from 6% to 5.5%, so as to inject primary liquidity into the banking system. In a press release issued today (24.1.2012), Dr. A.Sakthivel, President, TEA said he was totally disappointed with the RBI's monetary policy as there was no announcement for export sector and also failed to reduce the interest rates.