New Delhi, May 6: There is no housing price bubble building up in India, said Reserve Bank of India (RBI) Governor Duvvuri Subbarao.
Earlier, the RBI trimmed the repo rate to 7.25 percent, its lowest since May 2011, and kept the cash reserve ratio (CRR) for banks unchanged at 4 percent, in line with expectations.
Credit growth in India slowed to a roughly three-year low at 13.9 percent as of April 5, because of banks failing to to pass along most of the rate cuts to borrowers despite prodding from the central bank.
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