Bank loan to MFIs is priority sector lending: RBI

The Reserve Bank today said that loans extended by banks to micro-finance institutions (MFIs) from April 1 onward will be classified as priority sector lending.

RBI raises key policy rates by 0.50% to tame inflation

Faced with stubborn inflation, RBI raised key policy rates by 50 basis points in its annual credit policy for 2011-12 on Tuesday to arrest the rate of price rise.