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Following are the highlights of RBI’s bi-monthly monetary policy statement:
Short-term lending (repo) rate unchanged at 8 per cent
Cash reserve ratio (CRR) unchanged at 4 per cent
Statutory liquidity ratio (SLR) retained at 22 per cent to unlock banking funds
GDP growth for current fiscal estimated at 5.5 per cent
Projects retail inflation at 6 per cent by March 2015-end
Projects retail inflation to lower in November, rise again in December
Says change in monetary policy stance at the current juncture is premature
Hints at lowering policy rate early next year, if fiscal, inflation conditions improve
Weak revenue realisation a threat to fiscal deficit target
Next bi-monthly policy statement on February 3
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