RBI governor Urjit Patel led Monetary Policy Committee (MPC) kept the key repo rate unchanged at 6.25% in the first monetary policy review of 2017 and after Budget 2017.
Limit on cash withdrawal from savings banks accounts to be relaxed in 2 stages. From 20 February, 2017 limit to be increased from Rs 24k to Rs 50K.
From 13 March, 2017 there will be no limit on cash withdrawal from savings bank accounts. 9.92 lakh crore new notes infused into market as on January 27, 2017.
Inflation seen at 4-4.5% for April-September,2017. For January-March, 2017 CPI stay below 5%
Repo Rate- 6.25%
Reverse Repo Rate- 5.75%
Marginal Standing Facility Rate- 6.75%
Bank Rate- 6.75%
Source- The Hindu