Highlights of RBI monetary policy review

PTI Updated - January 23, 2018 at 05:18 PM.

Following are the highlights of RBI’s first bi-monthly monetary policy statement, 2015-16:

* Short-term lending rate (repo) unchanged at 7.5%

* Cash Reserve Ratio unchanged at 4%

* Retains Statutory Liquidity Ratio at 21.5%

* Estimates GDP growth at 7.8% in FY’16, up from 7.5% in FY’15

* Forecasts CPI inflation at 5.8% by March 2016

* CPI inflation to dip to 4% in August 2015

* Hailstorms in March affected 17% of the rabi crop sown area

* Future rate cuts will depend on interest rate reduction by banks

* India better prepared to deal with volatility post US Federal Reserve rate action

* State cooperative banks to be allowed to set up offsite/ mobile ATMs without prior approval from RBI

* RBI to formulate scheme for market making by primary dealers in semi—liquid and illiquid G—Secs

* Second bi-monthly policy statement on June 2

Published on April 7, 2015 06:58