New Delhi: Reserve Bank Governor Raghuram Rajan on Tuesday left all key rates unchanged citing increased risks to inflation and difficult external situation especially on the geopolitical front.
Following are the highlights of RBI's bi-monthly monetary policy statement.
* Short-term lending (Repo) rate unchanged at 8 percent
* Cash reserve ratio (CRR) unchanged at 4 percent
* SLR retained at 22 percent to unlock banking funds
* Estimates GDP growth at 5.5 percent for current fiscal
* High Q1 GDP may not be sustained in Q2 and Q3
* Q4 growth outlook looks promising
* Targets 8 percent CPI inflation by Jan 2015, 6 percent by Jan 2016
* Reduces liquidity under export credit refinance from 32 percent to 15 percent
* Guidelines on small and payments banks by end-November
* RBI to carry forward banking sector reforms
* Next bi-monthly policy statement on December 2.
