The Reserve Bank of India (RBI) today held policy rates steady largely in line with estimates.
Following are the highlights of RBI's second bi-monthly monetary policy statement, 2016-17, reports PTI.
1. Repo rate unchanged at 6.50 per cent, Reverse Repo at 6%
2. Cash reserve ratio or CRR unchanged at 4%
3. Monetary policy to remain accommodative
4. The RBI has pegged growth forecast at 7.6% for the current fiscal
5. Inflation target was kept untouched at 5% for January 2017
6. RBI said that "Interest rate transmission critical for growth revival"
7. Timely capital infusion in PSU banks will aid credit flow
8. Public investment gaining strength, continuing weakness in private investment is a concern.
9. RBI to shortly review the implementation of the Marginal Cost Lending Rate framework by banks
10. The third bi-monthly monetary policy will be held on August 9, 2016.
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