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Highlights of RBI's fourth bi-monthly monetary policy statement

New Delhi: Following are the highlights of RBI's fourth bi-monthly monetary policy statement, 2016-17:

Repo rate cut by 0.25% to 6.25%, Reverse Repo at 5.75%



Cash reserve ratio or CRR unchanged at 4%

rowth forecast at 7.6% for the current fiscal

Normal monsoon to quicken growth momentum

Inflation target remains 5% for March 2017, upside risk

6-member Monetary Policy Committee makes India's first collective interest rate decision

All MPC members voted in favour of rate cut

Foreign exchange reserve rose to all-time high of USD 372 billion by September

Govt has announced measures to cool food inflation, which opened up space for rate cut

Banks should cut lending rates as small savings rate has been lowered

RBI Governor expects further downgrading of global growth

To allow start-ups to raise up to USD 3 million ECB annually

Next monetary policy on December 7.

RBI's research department sees inflation at 5.3 percent in Jan-Mar 2017, from 5 per cent in the previous quarter

Sees growth picking up to 7.9 percent in next year

Pay Commission recommendations to spur price pressure

Uncertainty around US elections, crude prices, global demand.

Published Date: Oct 04, 2016 15:47 PM | Updated Date: Oct 04, 2016 15:47 PM

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