Dr. Y. Venugopal Reddy, Governor, presented the Annual Policy Statement for the Year 2008-09.
In a Press Release issued, Shri. A. Sakthivel, President, TEA said in the upsurge inflationary scenario, the Credit Policy has at least maintained the Bank Rate, Repo Rate and Reverse Repo Rate at the same level, which is a major solace to the industries, while increasing Cash Reserve Ratio (CRR) by 25 bps to 8.25% with effect from May 24, 2008.
He hoped RBI's several measures to tackle inflation will help for reduction of inflation.
Shri. A. Sakthivel welcomed the RBI's decision to disseminate the details of various charges levied by banks which will help for more transparency and hassle free dealings with banks.
Shri. A. Sakthivel appreciated the RBI's proposal to introduce a scheme of incentives and penalties for bank branches (including currency chests) to ensure that all bank branches provide better Customer services to members of public at bank counters for exchange of notes.
TIRUPUR EXPORTERS' ASSOCIATION
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