RBI predicts higher inflation, keeps rates unchaged

July 31, 2012 11:20

Just in: RBI cuts Statutory Liquidity Ratio (SLR) by 1 per cent to 23 per cent. RBI governor Dr D Subbarao has also announced that short term lending (repo) rate at 8 per cent will be retained and has kept other rates unchanged. RBI has lowered growth projection to 6.5 per cent, from 7.3 per cent earlier, for the current fiscal. March-end inflation projection has been raised to 7 per cent from 6.5 per cent earlier.

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