Highlights of RBI monetary policy

PTI Updated - November 25, 2017 at 08:34 PM.

NEW DELHI, 30/07/2012: Reserve Bank of India will make known whether it has opted for monetary easing and benchmark rate cut tomorrow when it announces the quarterly review of its monetary policy. Once a drought is confirmed by mid-August, food inflation will raise its head and headline inflation will be above 8% in no time. Further, the sharp depreciation of the rupee has made imports expensive and most of our imports are inelastic in nature. Photo: V.V. Krishnan

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

Published on December 2, 2014 06:31