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Key repo rate unchanged at 6.75 percent by RBI
Posted on: 03/Feb/2016 2:10:23 PM
The Reserve Bank of India (RBI) yesterday left the key repo rate unchanged at 6.75 percent, saying it would want to wait for more inflation data and the Union Budget before taking action, even as it said it would continue to remain accommodative.
It also left the cash reserve ratio and statutory liquidity ratio unchanged, despite concerns that liquidity is tight in the system.
Following are the highlights of the RBI`s sixth bi-monthly monetary policy statement
- Repo rate unchanged at 6.75 per cent
- Cash reserve ratio or CRR unchanged at 4 per cent
- Marginal standing facility rate and Bank Rate at 7.75 per cent
- Policy to remain accommodative if fiscal side helps
- Reforms in Budget to create space for rate cut
- Expects FY17 inflation at around 5 per cent
- 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.
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