RBI's 6th Bi-Monthly Monetary Policy Review Highlights

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In it's Sixth Bi-monthly Monetary Policy Review, the Reserve Bank of India (RBI) has left the key policy rates unchanged. The central bank will now focus on the government’s annual budget statement at the end February to decide on whether to cut interest rates further. The government is expected to deliver its 2016/17 budget on 29th February 2016. Here are the highlights

Current RBI Rates

• Repo Rate – 6.75% (Unchanged)
• Reverse Repo Rate – 5.75% (Unchanged)
• CRR (Cash Reserve Ratio) – 4% (Unchanged)
• Bank Rate – 7.75% (Unchanged)
• MSF (Marginal Standing Facility) – 7.75% (Unchanged)
• SLR (Statutory Liquidity Ratio) – 21.5% (Unchanged)

Few more highlights of RBI's 6th Bi-Montlhy Policy Review

• Policy to remain accommodative if fiscal side helps
• Reforms in Budget to create space for rate cut
• Expects FY17 inflation at around 5 pc
• Indian economy is being viewed as a beacon of stability
• Pegs FY16 growth at 7.4 pc; FY17's at 7.6 pc
• RBI to create a special ecosystem for startup funding
• Prospects for the rabi harvest are improving slowly
• First bi-monthly monetary policy for 2016-17 on April 5

shared by Meenakshi Madan

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