Highlights- RBI's mid-quarter monetary policy review

Highlights- RBI's mid-quarter monetary policy review

Highlights- RBI's mid-quarter monetary policy review

Following are the highlights of RBI's mid-quarter monetary policy review:

* Key short-term lending rate (repo rate) hiked by 0.25 pc to
7.50 pc.
* Borrowing rate for banks reduced under MSF by 0.75 pc to
9.5 pc.
* Eases minimum daily liquidity maintenance of CRR to 95 pc
from 99 pc.
* Maiden policy announcement by new RBI Governor Raghuram
Rajan.
* Retains Cash Reserve Ratio (CRR) at 4 pc.
* Inflation worrisome, no room for complacency.
* WPI inflation will be higher than that projected for rest
of the year.
* Economic growth trailing below potential.
* Pace of infrastructure project completion subdued, new
projects' starts remain muted.
* Next monetary policy review on October 29.

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