Credit Policy Review: CRR, Bank Rate unchanged

The Reserve Bank of India today left the cash reserve ratio (CRR) and Bank rate unchanged at 5% and 6%, respectively in the quarterly review of the credit policy announced today.

The mid-term review of the annual policy statement will be undertaken on October 31, 2006 instead of October 17, 2006 and the third quarter review on January 30, 2007 instead of January 23, 2007 as indicated in the annual policy statement of April 2006.