Monday 8 October 2012

Highlights of the RBI Quarterly Monetary Policy Review:

* Repo rate - the rate at which banks borrow from RBI remained unchanged at 8 percent.
* Reverse repo rate – the rate at which, the banks lend to RBI – kept unchanged at 7 percent.
* CRR - the amount of total deposits that banks are required to keep with the central bank - also remained unchanged at 4.75
* SLR was changed to 23 percent from the erstwhile 24 percent
* Projection for WPI based inflation for March 2013 raised to 7 percent
* Economic growth outlook for the fiscal year 2012-13 cut to 6.5 percent

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