Highlights of RBI’s First Bi-Monthly Monetary Policy Statement 2015-16:
List of Important highlighting points in the RBI’s first bi-monthly monetary policy statement 2015-16 was given here. Candidates those who are preparing for Upcoming Bank PO and Clerk Exams can use these materials.
· Short-term lending rate (repo) unchanged at 7.5%.
· Cash Reserve Ratio unchanged at 4%.
· Retains Statutory Liquidity Rate at 21.5%.
· Estimates GDP growth at 7.8% in financial year 2016, up from 7.5% in the year 2015.
· Forecasts CPI inflation at 5.8% by March 2016.
· CPI inflation to dip to 4% in August 2015.
· Hailstorms in March affected 17% of the rabi crop sown area.
· Future rate cuts will depend on interest rate reduction by banks.
· India better prepared to deal with volatility post US Federal Reserve rate action.
· State cooperative banks to be allowed to setup offsite/ mobile ATMs without prior approval from RBI.
· RBI to formulate scheme for market making by primary dealers in semi-liquid and illiquid G-Secs.
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