Date:31/10/2007 URL: http://www.thehindubusinessline.com/2007/10/31/stories/2007103152590701.htm

Back `On expected lines'

New Delhi, Oct. 30

Stating that the Credit Policy was "on expected lines", the Confederation of Indian Industry said that keeping in mind the international trends in interest rates, the RBI could have considered an interest rate (repo rate) cut to go along with the CRR hike of 50 bps. The chamber said that the hikewould effectively suck out about Rs 15,500 crore from the system. - Our Bureau