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'Banks must up deposit base' October 31, 2006 16:00 IST Last Updated: October 31, 2006 17:11 IST "The signal is that the banks, whose demand for resources are to be met from RBI, will have to pay a higher interest," Mohan told reporters at the RBI headquarters' in Mumbai. On price rise, Mohan maintained that RBI was committed to contain inflation at the projected range of 5-5.5 per cent. He, however, said international commodity prices may have an impact on inflation. Mohan was talking to reporters after the mid-term review of the credit policy, in which the Reserve Bank of India increased the repo rate -- at which it lends to commercial banks -- by 25 basis points to 7.25 per cent. Monetary and Credit Policy 2006-07: Complete Coverage
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