NEW DELHI, June 7: Following are the highlights of
RBI’s second bi-monthly monetary policy statement, 2016-17:
* Repo rate unchanged at 6.50 per cent, Reverse Repo at 6%
* Cash reserve ratio or CRR unchanged at 4%
* Monetary policy to remain accommodative
* Pegs growth forecast at 7.6% for the current fiscal
* Inflation target kept unchanged at 5% for January 2017 with
Upward bias
* Impact of firming crude oil prices, implementation of 7th
Pay Commission recommendations need to be watched
* Interest rate transmission critical for growth revival
* Timely capital infusion in PSU banks to aid credit flow
* Public investment gaining strength, continuing weakness in
Private investment is a concern.
* To shortly review the implementation of the Marginal Cost
Lending Rate framework by banks
* Third bi-monthly monetary policy on August 9. (PTI)
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