Latest RBI Monetary Policy Review

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Today RBI announced its quarterly review of Monetary Policy

Highlights

 

* Repo Rate and CRR Remains Unchanged

* SLR cut by 0.50 per cent to 22 per cent , this will allow banks to use more of its funds

* Estimates GDP growth at 5.5 per cent for current fiscal

* Targets 8 per cent CPI inflation by Jan 2015, 6 per cent by Jan 2016

* Lowers banks’ SLR holdings in held-to-maturity category by 0.5 per cent to 24 per cent * Govt policies to improve domestic demand, supply conditions

* Higher oil prices, pass-through of administered price increases pose upside risks to inflation

* Monsoons still a concern, posing risks to inflation

* Govt action on food management and fast-tracking project completion to improve supply

* Banking sector reforms will continue

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