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Mumbai, Nov. 27 The Reserve Bank of India said that there were no worries on the slack credit offtake during the peak season so far.

Speaking to reporters on the sidelights of BANCON, the RBI Governor, Mr Y.V. Reddy said, “It is closer to what we wanted it to be.”

Credit growth is currently in the range of about 22 per cent on a year-on-year basis.

Dr Reddy said that inflation was being closely monitored, despite the current low levels. This was in view of the current high international oil prices.

In addition, the RBI was also keeping tabs on liquidity expansion as part of the steps to contain inflation.

“We are monitoring all the monetary aggregates, that include liquidity and capital flows,” he said.

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