Global Paradigm Goal

Chairman, Corporation Bank

The Reserve Bank of India (RBI) has been in a consultative mode in the recent past and consistency has been the hallmark of the Monetary and Credit Policy.

A reduction in the bank rate from 6.25 per cent to 6 per cent and cash reserve ratio from 4.75 per cent to 4.50 per cent inspite of inflation raising its head towards March 2003 is a bold initiative indicating RBI