News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 8 years ago
Home  » Business » The high points of Raghuram Rajan's farewell policy

The high points of Raghuram Rajan's farewell policy

Source: PTI
August 09, 2016 11:53 IST
Get Rediff News in your Inbox:

RBI Governor Raghuram Rajan

Reserve Bank of India Governor Raghuram Rajan on Tuesday maintained status quo on key rates at his last policy review meeting.

Following are the highlights of RBI's third bi-monthly monetary policy statement, 2016-17:

  • Repo rate unchanged at 6.50 per cent, Reverse Repo at 6%
  • Cash reserve ratio or CRR unchanged at 4%
  • Growth forecast at 7.6% for the current fiscal
  • Inflation target remains 5% for January 2017; upside risk
  • Normal monsoon, 7th Pay Commission award to boost growth
  • GST roll out to boost business sentiment, investment
  • Timely implementation of GST a challenge
  • Premature to talk about inflationary impact of GST
  • FCNR(B) redemptions not to disrupt liquidity in market
  • Banks have passed on rate cut benefit only modestly
  • FAQ on KYC norms on RBI website for easy reference
  • Marginal Cost Lending Rate framework for interest rate to be modified
  • Forex reserves at $365.7 billion on August 5
  • Fourth bi-monthly monetary policy on October 4.

Image: RBI Governor Raghuram Rajan. Photograph: Reuters

Get Rediff News in your Inbox:
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.
 

Moneywiz Live!