NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » Highlights of RBI's mid-quarter policy review

Highlights of RBI's mid-quarter policy review

September 20, 2013 11:48 IST

Following are the highlights of RBI's mid-quarter monetary policy review:

 * Key short-term lending rate (repo rate) hiked by 0.25 pc to 7.50 pc.

 * Borrowing rate for banks reduced under MSF by 0.75 pc to 9.5 pc.

 * Eases minimum daily liquidity maintenance of CRR to 95 pc from 99 pc.

 * Maiden policy announcement by new RBI Governor Raghuram Rajan.

 * Retains Cash Reserve Ratio (CRR) at 4 pc.

 * Inflation worrisome, no room for complacency.

 * WPI inflation will be higher than that projected for rest of the year.

 * Economic growth trailing below potential.

 * Pace of infrastructure project completion subdued, new projects' starts remain muted.

 * Next monetary policy review on October 29. 

© Copyright 2018 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.