India's apex bank, the Reserve Bank of India is likely to keep policy rates unchanged in its monetary policy to be revealed tomorrow, reported the PTI. RBI might insist on the banks to increase lending to sectors that are slowing down.
Recently, Reserve Bank Governor D Subbarao hinted at a seminar that banks are yet to respond to earlier policy rate cuts. The UCO Bank Chairman and Managing Director S K Goel, predicts that there would no alteration in policy rates in the annual monetary policy. Indian Bank Chairman and Managing Director M S Sundararajan reportedly said that with enough liquidity in the system, RBI would like to ensure adequate credit flows to productive sectors.
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