RBI maintains status quo

As against everybodya's expectation, RBI has maintained status quo and left repo rate and CRR unchanged.  Inflation weighed on RBI's monetary policy decision and RBI's press release stated that it "had frontloaded the policy rate reduction in April with a cut of 50 basis points."

Thus no significant change in interest rates offered on fixed deposits by banks is expected anytime soon.  Bachhat updated its page on FD interest rates on 15th June 2012.  Next update shall be around 15th July 2012, unless RBI acts on the rates between two monetary policies.