RBI may revise inflation target

The Reserve Bank of India, which is closely monitoring inflation, now at 8.33 per cent, may revise its annual target of 5-5.5 per cent in the busy season credit policy next month, according to RBI deputy governor Rakesh Mohan.

"We are closely monitoring the situation and will continue to take measured steps as and when necessary," Reserve Bank deputy governor Rakesh Mohan said, adding like all other central banks it would review inflation in the monetary and credit policy.

The Reserve Bank's