Facebook Pixel Code

Highlights: RBI Guv Raghuram Rajan keeps key policy rates unchanged, but unlocks Rs 40,000 cr of bank funds

Cash reserve ratio (CRR) unchanged at 4 per cent.

Reserve Bank of India Governor Raghuram Rajan kept the country’s key policy repo rate unchanged at 8 percent on Tuesday, as widely expected, with consumer price inflation coming down this year after a series of tightening steps by the central bank.

Here are the highlights:

* Short-term lending (Repo) rate unchanged at 8 pc

* Cash reserve ratio (CRR) unchanged at 4 pc

* SLR cut by 0.50 pc to 22.5 pc to unlock banking funds

* Expect economic growth for 2014-15 to be between 5-6 pc

* Further policy tightening will not be warranted if inflation continues to decline

* Reiterates CPI inflation target of 8 pc by January 2015, 6 pc by 2016

* Decisive election results should help bring in gradual recovery of growth

* Farm sector outlook clouded by forecast of delay in monsoon

* Export credit refinance facility cut to 32 pc from 50 pc

* FPIs allowed in currency derivative market

* Indians as well as non-residents can carry up to Rs 25,000 while leaving country

* This facility not valid for citizens of Pakistan and Bangladesh

* Next bi-monthly policy statement on August 5

*Hikes eligibility limit for forex remittances to USD 1,25,000, from USD 75,000 at present.

Get live Share Market updates, Stock Market Quotes, and the latest India News and business news on Financial Express. Download the Financial Express App for the latest finance news.

First published on: 03-06-2014 at 12:18 IST
Market Data
Market Data
Today’s Most Popular Stories ×