RBI Annual Policy Statement for the Year 2007-08

Dr. Y. Venugopal Reddy, Governor, in a meeting with Chief Executives of major commercial banks today presented the Annual Policy Statement for the Year 2007-08.

• RBI keeps policy rates unchanged• GDP forecast lowered to 8.5%• Money supply growth predicted at 17-17.5%• Inflation targeted at 5% as against earlier 5-5.5% • RBI to maintain hawkish stance• RBI not likely to hike rates



Source RBI

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Anonymous said…
Risk weight on loans up to Rs.1 lakh against gold and silver ornaments for all categories of banks reduced to 50 per cent.

Risk weight on residential housing loans to individuals for loans up to Rs.20 lakh reduced to 50 per cent as a temporary measure.

Overseas investment limit (total financial commitments) for Indian companies enhanced to 300 per cent of their net worth