Following are the highlights of the RBI Governor Raghuram Rajan’s decision on monetary policy and subsequent development:
* Key policy rate (repo) cut by 0.25 per cent to 7.75 pc.
* Reverse repo to cut by 0.25 pc; CRR still at 4 pc.
* First cut in interest rate since May 2013.
* EMIs for auto and home loan to come down.
* United Bank of India announces cut in lending rate.
* Other banks likely to follow.
* FM Arun Jaitley terms it positive for economy.
* FM says move will leave more money in hands of people.
* India Inc hails interest rate cut.
* BSE Sensex jumps over 800 pts in intra-day trade.
* Since July 2014 inflationary pressures easing, says RBI.
* Crude prices expected to remain low over the year.
* Govt reiterated commitment to fiscal targets, says RBI.
* Inflation is likely to be below 6 pc by January 2016.
* RBI to announce monetary policy review on February 3.
Read StanChart Report: RBI likely to ease further
Read SBI Report: Beginning of a rate easing cycle
