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 pc
* SLR retained at 22 pc to unlock banking funds
* Estimates GDP growth at 5.5 pc for current fiscal
* High Q1 GDP may not be sustained in Q2 and Q3
* Q4 growth outlook looks promising
* Targets 8 pc CPI inflation by Jan 2015, 6 pc by Jan 2016
* Reduces liquidity under export credit refinance from 32 to 15 per cent
* Guidelines on small and payments banks by end-November
* RBI to carry forward banking sector reforms
* Next bi-monthly policy statement on December 2.
