Rediffmail Money rediffGURUS BusinessEmail

Highlights of RBI's monetary policy

February 03, 2015 12:26 IST
Source:PTI

Following are the highlights of RBI's bi-monthly monetary policy statement:

* Short-term lending rate unchanged at 7.75 pc

* Cash Reserve Ratio unchanged at 4 pc

* Statutory Liquidity Ratio cut to 21.5 pc, effective February 7, to unlock banking funds

* Current Account Deficit at 1.3 pc of GDP for 2014-15

* Inflation target at 6 per cent by January 2016

* GDP growth estimates under old base for current fiscal at 5.5 pc; 6.5 pc for 2015-16

* Banks asked to lend to productive sector to spur investment, growth

* Limit of foreign exchange remittance doubled to $2,50,000 per person annually

* 72 application for Small Finance Banks, 41 for Payments Banks received

* Export credit refinance to be replaced with provision of system level liquidity, effective February 7

* Foreign portfolio investors allowed to re-invest in G-Secs after their investment limits are utilised

* Bi-monthly policy statement for 2015-16 on April 7. 

Source: PTI
© Copyright 2026 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

More News Coverage

RBIGDPStatutory Liquidity RatioCash Reserve RatioSmall Finance Banks

RELATED STORIES

WEB STORIES

8 Places From The World Of Sherlock Holmes & Doyle

The Art Of Tea: 7 Special Tea Recipes

9 Famous Tea Rooms Of The World

VIDEOS

NEWS BUSINESS MOVIES CRICKET SPORTS GET AHEAD REDIFF-TV REDIFF ASTRO MOBILE RECHARGE BILL PAYMENTS