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Following are the highlights of RBI’s second bi-monthly monetary policy statement for 2015 - 16:
Short—term lending rate (repo) cut by 0.25 per cent to 7.25 per cent
Cash Reserve Ratio unchanged at 4 per cent
Statutory Liquidity Ratio retained at 21.5 per cent
Inflation expected to rise to 6 per cent by January 2016
Strong food policy management needed to keep inflation and inflationary expectations under check
Growth forecast lowered to 7.6 per cent for 2015-16 from 7.8 per cent projected in April
Banks asked to pass on benefit of rate cuts to borrowers
Targeted infusion of bank capital into PSU banks needed to ensure credit flows to productive sectors
Third bi—monthly policy statement on August 4.
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