Highlights of RBI's lifting key rates | business | Hindustan Times
Today in New Delhi, India
Dec 08, 2016-Thursday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Highlights of RBI's lifting key rates

business Updated: Apr 20, 2010 13:50 IST

Reuters
Highlight Story

The Reserve Bank of India (RBI) on Tuesday raised key interest rates by 25 basis points, as expected, tightening policy for the second month in a row as it battles inflation near double digits.

Following are highlights from the policy.

* Lifts repo rate by 25 bps to 5.25 pct

* Lifts reverse repo rate by 25 bps 3.75 pct

* Rate hikes effective immediately

* Raises cash reserve ratio for banks by 25 bps

* CRR increased to 6.0 pct effective April 24

* RBI sees baseline whole price index (WPI) at 5.5 pct at end March 2011

* RBI sees 2010/11 GDP growth at 8 pct with upside bias

* Says developments on inflation "worrisome"

* Says global commodity prices could add to inflationary pressures

* Sees 2010/11 money supply growth at 17 pct, non-food credit growth of commercial banks at 20 pct