Following are the highlights of RBI mid-quarterly monetary review conducted for the first time on Thursday:
1. Ups short term lending (Repo) rate by 0.25 pc to 6 pc
2. Ups short-term borrowing (Reverse Repo) rate by 0.50 pc to 5 pc
3. Cash Reserve Ratio retained at 6 percent.
4. Bank rate retained at 6 pc
5. Statutory Liquidity Ratio retained at 25 pc
6. Actions aimed at containing inflation without hurting growth
7. Inflation reached plateau, says RBI
8. But it is likely at unacceptably high levels for some months
9. 40 banks raised deposit rates, 26 lending rates since July
10. Interest rates, after adjusting to inflation, in negative
11. Real interest rates should move up to encourage deposits
12. Growth remains steady, although industrial growth is volatile
13. Monsoon to boost prospects for farm growth
14. All indicators point to sustained growth in services.
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