Inflation will stand at 8.5 per cent by March end: RBI

On the second day of his visit RBI Governor D Subbarao held meeting with government officals and bankers in Patna on February 18, 2010.

Later addressing a press consfernce he said the Reserve Bank would stick to its projection of inflation standing at 8.5 per cent by the end of the current fiscal, even as rate of price rise has already breached the central bank's target.

"Monitoring inflation is a continuous process. We still stand by that inflation will be at 8.5 per cent, as projected, by March 2010," he said.

The RBI governor said the credit deposit ratio in Bihar was far below the national average and said the apex bank would do its best to improve it.

Photo: Aftab Alam Siddiqui