RBI Monetary Policy Review: Here are the key highlights

Here are the key highlights of the third Bi-monthly Monetary Policy Statement issued by RBI.

Mumbai: Following are the key highlights of the Third Bi-monthly Monetary Policy Statement issued by RBI:

* Key policy rate reduced by 0.25 percent to 6 percent.

* Reverse repo rate cut by 0.25 percent to 5.75 percent.

* Focus on keeping headline inflation close to 4 percent on Durable basis

* Some risks to inflation have reduced or not materialised.

* Growth forecast unchanged at 7.3 percent for the current fiscal.

* Pushes for reinvigorating private investments, clearing Infra bottlenecks and providing big thrust to PMAY.

* Forex reserves at USD 392.9 billion as on July 28.

* Four members of Monetary Policy Committee voted in favour of 0.25 percent rate cut.

* Farm loan waivers by states may result in fiscal slippages, Undermine public spending quality.

* Government, RBI working to resolve large NPAs and Recapitalise public sector banks.

* High levels of stress in twin balance sheets banks and Corporations are likely to deter new investment.

* Next MPC meeting on October 3 and 4, 2017.