Zee Media Bureau
New Delhi/Mumbai: Reserve Bank of India (RBI) governor Raghuram Rajan on Tuesday said that at least first set of differential bank licences will be announced by the end of this month.
Exuding optimism over global economic recovery, the RBI chief said that hardening of inflation excluding food and fuel is a matter of concern.
“We note the recent fall in oil prices which will be very beneficial for India,” Rajan said.
He further added that RBI is talking to the government for medium term framework for FPI limits in debt securities.
RBI kept its interest rates unchanged at its third bi-monthly monetary policy review today.
After the status-quo in policy rates, the reserve ratio stands at 7.25 percent, the reverse ratio stands at 6.25 percent and cash reserve ratio (CRR) and statutory liquidity ratio (SLR) at 4 percent and 21.5 percent, respectively.
