Know the key highlights of RBI monetary policy review

Know the highlights of RBI's fifth bi-monthly monetary policy statement for 2015-16.

Zee Media Bureau

New Delhi: Following are the highlights of RBI's fifth bi-monthly monetary policy statement for 2015-16.

* Benchmark policy rate unchanged at 6.75 percent
* Cash reserve ratio (CRR) unchanged at 4%
* GDP to grow at 7.4% in 2015-16; mild downside bias
* Economy in early stages of recovery, weakness persist
* Farm sector subdued; rabi, kharif prospect hit by monsoon
* Retail inflation at 6% by January, 5% by March 2017
* Inflation uptick for 2 months warrants vigilance
* Open to accommodative monetary policy, keeping inflation under control
* Implementation of Pay Panel recommendations to be factored in for future policy deliberation
* Banks transmitted only 0.60% of 1.25% repo rate cut benefits to borrowers
* To shortly finalise base rate computation based on marginal cost of funds
* Clean up of bank balance sheets will create room for fresh lending
* Linking of small savings rate with market interest rates on anvil, to help in monetary transmission
* Early signs of recovery in pharma, electronic exports
* Sixth Bi-monthly Monetary Policy on February 2.