Rediff.com » Business
What the RBI monetary policy has to offer
Source: PTI June 07, 2016
The Reserve Bank of India on Tuesday kept the key rates unchanged at 6.50 per cent.
Here are the highlights:
- Repo rate unchanged at 6.50 per cent, Reverse Repo at 6%
- Cash reserve ratio or CRR unchanged at 4%
- Monetary policy to remain accommodative
- Pegs growth forecast at 7.6% for the current fiscal
- Inflation target kept unchanged at 5% for January 2017 with upward bias
- Impact of firming crude oil prices, implementation of 7th Pay Commission recommendations need to be watched
- Interest rate transmission critical for growth revival
- Timely capital infusion in PSU banks to aid credit flow
- Public investment gaining strength, continuing weakness in private investment is a concern.
- To shortly review the implementation of the Marginal Cost Lending Rate framework by banks
- Third bi-monthly monetary policy on August 9.
Source:
PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
Recommended by Rediff.com
RBI chief Rajan wins over Modi despite broad mistrust
I think, de facto, RBI is independent: Raghuram Rajan
Why is the RBI playing it safe?
Rajan not top-paid man at RBI!
Will the RBI cut rates on Tuesday?
© 2024 Rediff.com