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FAPCCI hails Credit Policy

Our Bureau

HYDERABAD: The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) has welcomed the RBI's Annual Monetary Policy for the year 2005-06.

In a press release here on Thursday, Mr O.P. Goenka, President of FAPCCI, said the policy is only a continuation of the Mid-Term Review announced by the apex bank in October last. On Cash Reserve Ratio, he said the chambers expected that the bank would reduce it to the statutory minimum level of three per cent from five per cent.

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