RBI maintains status quo; banks may raise rates in 3-4 weeks

D Subbarao, Governor, RBI, along with Urjit R Patel, Deputy Governor, address a press conference on Monetary Policy in Mumbai on Tuesday

...........Stating that the external sector was the "biggest risk to macroeconomic stability," Subbarao called for urgent policy steps from the government to curtail the CAD to a sustainable level of 2.5 per cent of GDP and said that the RBI is ready to use all instruments under its command to help in the efforts. "It should be emphasised that the time available now should be used with alacrity to institute structural measures to bring CAD down to sustainable levels," the Governor said.............

Read............