RBI rates unchanged in 2nd bi-monthly monetary policy review for year 2016-17
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Posted on:07 Jun 2016 12:57:25
07 June 2016 Current Affairs: The Reserve Bank of India (RBI) in its second bi-monthly monetary policy review for year 2016-17 has maintained status quo in key policy interest rate. The key policy interest rates were kept unchanged on the basis of an assessment of the current and evolving macroeconomic situation in the country. RBI has kept its stance on the credit policy accommodative.
Repo rate under the liquidity adjustment facility (LAF) : unchanged at 6.75 per cent.
Reverse repo rate under the LAF : unchanged at 5.75 per cent.
Marginal standing facility (MSF) rate and the Bank Rate has unchanged at 7.75 per cent.
Cash Reserve Ratio (CRR) of scheduled banks : Unchanged at 4.0 per cent of net demand and time liability (NDTL).
Growth forecast pegged at 7.6% for the current fiscal.
Inflation target : It was kept unchanged at 5% for January 2017 with upward bias Public investment: It is gaining strength and continuing weakness in private investment is a concern.
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