RBI

The Reserve Bank of India, in its annual policy statement, has announced three changes to the priority sector lending (PSL) norms and has increased the loan limit for the Micro Small and Medium Enterprises (MSME) in the services sector to Rs 5 crore per borrower from Rs 2 crore earlier.

The Reserve Bank of India Monday said inflation remains above the comfort zone and fiscal and current account deficits are still high, moderating expectations of an interest rate cut.

Based on expectations of cuts in key policy rates by the Reserve Bank of India, the Federation of Indian Chambers of Commerce and Industry (FICCI) has predicted the economy to grow by 6.7 per cent for 2013-14.