Speaking on the sidelines of the sixth annual seminar on mutual funds industry held here on Thursday, Dr Jalan said: "No change in bank rate or cash reserve ratio is being considered at this juncture."

Dr Jalan was categorical that it will be an absolutely routine exercise and the policy will review the developments in the economy and financial markets, including the forex market, since April. Media reports had earlier quoted the central bank spokesperson as stating that the policy will be a routine one and no major measures are to be announced.

In the run up to the announcement of the policy date on October 10, speculation had been rife that the central bank will scrap, if not largely modify, the exchange earners foreign currency (EEFC) accounts scheme.

The RBI had, in late August, asked EEFC account holders to unwind 50 per cent of their holdings in such accounts to ease the pressure on the rupee.

Inter-bank sources estimate the inflows on account of this at a conservative $600 million, and not the $1 billion that the move was expected to bring in by way of dollar inflows. Few though were expecting a tinkering on the bank rate or CRR front.

On mutual funds (MFs), Dr Jalan said that the industry presented a good opportunity to mobilise savings given the fact that bank-deposits were largely the only investment option till date. He added that MFs presented investors an option with varying risk-profiles.

The RBI governor also said that MFs must have in place a proper asset-liability mechanism. In what looked like a dig at the Unit Trust of India, Dr Jalan warned that MFs should be cautious while offering assured return as there was a danger that they may not be in a position to honour their commitments.