45. On the basis of the current assessment and in line with policy stance outlined in Section III, the Reserve Bank announces the following policy measures.
46. It has been decided to:
Reverse Repo Rate
47. The reverse repo rate under the LAF, determined with a spread of 100 basis points below the repo rate, stands adjusted to 7.0 per cent with immediate effect.
Marginal Standing Facility
48. In order to provide greater liquidity cushion, it has been decided to:
49. Banks can continue to access the MSF even if they have excess statutory liquidity ratio (SLR) holdings, as hitherto.
50. The MSF rate, determined with a spread of 100 basis points above the repo rate, stands adjusted to 9.0 per cent with immediate effect.
51. The Bank Rate stands adjusted to 9.0 per cent with immediate effect.
Cash Reserve Ratio
52. The cash reserve ratio (CRR) of scheduled banks has been retained at 4.75 per cent of their NDTL.
Extract from Monetary Policy Statement 2012-13 by Dr. D. Subbarao, RBI Governor on 17.04.2012