New Delhi: The following are the highlights of second bi-monthly monetary policy for 2017-18 as announced by RBI:


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* Repo rate unchanged at 6.25%,


* Reverse repo unchanged at 6%


* Statutory Liquidity Ratio cut by 0.5% to 20%


* Growth forecast for 2017-18 lowered to 7.3% from 7.4%


* Inflation projected at 2-3.5% for H1, 3.5-4.5% H2, FY18


* GST roll out not to have material impact on inflation


* Farm loan waivers risk fiscal slippages and inflationary spillovers


* 7th Pay Commission allowances, geo political, financial risk pose upside risk to inflation


* Need to revive private investment, restore banking sector health, remove infrastructure bottleneck


* RBI to work with government to address stress in bank balance sheet


* Five MPC members vote in favour of status quo on monetary policy, one had different views


* Next meeting of Monetary Policy Committee on August 1 and 2.