Highlights of mid-quarter review of India's monetary policy

Following are the highlights of RBI mid-quarterly monetary review conducted for the first time today:

Following are the highlights of RBI mid-quarterly monetary review conducted for the first time on Thursday:

HT Image

1. Ups short term lending (Repo) rate by 0.25 pc to 6 pc

2. Ups short-term borrowing (Reverse Repo) rate by 0.50 pc to 5 pc

3. Cash Reserve Ratio retained at 6 pc

4. Bank rate retained at 6 pc

5. Statutory Liquidity Ratio retained at 25 pc

6. Actions aimed at containing inflation without hurting growth

7. Inflation reached plateau, says RBI

8. But it is likely at unacceptably high levels for some months

9. 40 banks raised deposit rates, 26 lending rates since July

10. Interest rates, after adjusting to inflation, in negative

11. Real interest rates should move up to encourage deposits

12. Growth remains steady, although industrial growth is volatile

13. Monsoon to boost prospects for farm growth

14. All indicators point to sustained growth in services.