Highlights of monetary policy
MUMBAI: RBI governor Raghuram Rajan on Tuesday kept interest rates unchanged, citing a spike in food prices and banks passing on to consumers only less than half of its previous rate cuts.
Following are the highlights of the third bi-monthly monetary policy statement by the RBI Stock Market Tips
* Key policy rate (repo) kept unchanged at 7.25 per cent * Cash reserve ratio (CRR) unchanged at 4 per cent * Economic recovery is still work in progress * After strong rainfall in June, July has been below par, but overall monsoon is near normal * Most worrisome is sustained hardening of inflation except food and fuel * Signs that consumption demand, especially in urban areas, is picking up * Weak global demand conditions restrained exports * Banks have passed on an average 0.3 per cent interest rate cut as against RBI's 0.75 per cent rate cut since January * New investment demand emanating from private sector and government remains subdued * RBI retains growth target at 7.6 per cent for 2015-16 * Capital infusion into PSBs will help loan growth and transmission * Fourth bi-monthly monetary policy to be announced on September 29 Commodity Trading Tips Nifty Trading Tips
Following are the highlights of the third bi-monthly monetary policy statement by the RBI Stock Market Tips
* Key policy rate (repo) kept unchanged at 7.25 per cent * Cash reserve ratio (CRR) unchanged at 4 per cent * Economic recovery is still work in progress * After strong rainfall in June, July has been below par, but overall monsoon is near normal * Most worrisome is sustained hardening of inflation except food and fuel * Signs that consumption demand, especially in urban areas, is picking up * Weak global demand conditions restrained exports * Banks have passed on an average 0.3 per cent interest rate cut as against RBI's 0.75 per cent rate cut since January * New investment demand emanating from private sector and government remains subdued * RBI retains growth target at 7.6 per cent for 2015-16 * Capital infusion into PSBs will help loan growth and transmission * Fourth bi-monthly monetary policy to be announced on September 29 Commodity Trading Tips Nifty Trading Tips
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