Following are the highlights of RBI's first bi-monthly monetary policy statement, 2015-16:
* Cash Reserve Ratio unchanged at 4 pc
* Retains Statutory Liquidity Ratio at 21.5 pc
* Estimates GDP growth at 7.8% in FY'16, up from 7.5% in FY'15
* Forecasts CPI inflation at 5.8 pc by March 2016
* CPI inflation to dip to 4 pc in August 2015
* Hailstorms in March affected 17% of the rabi crop sown area
* Future rate cuts will depend on interest rate reduction by banks
* India better prepared to deal with volatility post US Federal Reserve rate action
* State cooperative banks to be allowed to set up off-site/mobile ATMs without prior approval from RBI
* RBI to formulate scheme for market making by primary dealers in semi-liquid and illiquid G-Secs
* Second bi-monthly policy statement on June 2