The Reserve Bank of India has released the first Bi-monthly Monetary policy of the new financial year (2017-18).
RBI has left the repo rate unchanged in monetary policy review of FY18. The RBI has however hiked its outlook for GDP growth to 7.4% in this fiscal from 6.7% last year. Inflation is expected to average around 4.5% in the first half and 5% in the second half.
RBI has left the repo rate unchanged in monetary policy review of FY18. The RBI has however hiked its outlook for GDP growth to 7.4% in this fiscal from 6.7% last year. Inflation is expected to average around 4.5% in the first half and 5% in the second half.
Rates in the newly released Monetary policy are as follows-
- Repo Rate under the Liquidity Adjustment Facility (LAF) unchanged at 6.25%.
- The Reverse Repo Rate (RRR) under the Liquidity Adjustment Facility (LAF) has been hiked to 6% from 5.75%.
- The Marginal Standing Facility (MSF) rate and the Bank Rate are at 6.50% decline from 6.75%.
- Cash Reserve Ratio (CRR) remains unchanged at 4% and Statutory Liquidity Ratio (SLR) also remains unchanged at 20.50%.
Source- RBI
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