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April 19, 2001
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RBI says prefers soft interest rates

The Reserve Bank of India said on Thursday that it preferred softer interest rates, and added that it may revise its easy monetary stance if economic conditions changed.

The RBI made the comments when releasing its Monetary and Credit Policy for 2001-02.

The RBI also said the overall monetary conditions were "reasonably comfortable now".

The RBI, late in the last financial year, lowered its bank rate to 7.0 per cent from 8.0 per cent and the CRR to 8.0 per cent from 8.5 per cent.

Monetary & Credit Policy 2001-2002 (First Half)

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