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RBI Monetary Policy Review: Key Highlights

Short-term lending (Repo) rate unchanged at 8 percent

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

* Short-term lending (Repo) rate unchanged at 8 percent
* Cash reserve ratio (CRR) unchanged at 4 percent
* SLR cut by 0.50 percent to 22 percent to unlock banking funds
* Estimates GDP growth at 5.5 percent for current fiscal
* Targets 8 percent CPI inflation by Jan 2015, 6 percent by Jan 2016
* Lowers banks' SLR holdings in held-to-maturity category by 0.5 percent to 24 percent
* Govt policies to improve domestic demand, supply conditions
* Higher oil prices, pass-through of administered price increases pose upside risks to inflation
* Monsoons still a concern, posing risks to inflation
* Govt action on food management and fast-tracking project completion to improve supply
* Banking sector reforms will continue
* Next bi-monthly policy statement on September 30.

From Zee News

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