RBI Updates 2015- Highlights of the RBI Policy

    RBI Updates 2015- Highlights of the RBI Policy
    RBI Updates 2015- Highlights of the RBI Policy:
    Important RBI Updates in June 2015 was given here for your reference, in that we have listed the highlights of the RBI Policy, which is expected GK Questions in Upcoming RBI Assistant Exam 2015.

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    • The SLR, the proportion of deposits banks are required to park in government bonds, stands at 21.5%, while the Cash Reserve Ratio (CRR), the proportion of deposits that banks have to park with the RBI, stands at 4%.
    • The repo rate cut, however, will likely good companies to invest, add capacities, hire more, and prompt people to spend on houses, cars and other goods and aid the budding recovery in Asia’s third largest economy.
    • A lower repo will bring down banks’ borrowing costs, which in turn, may prompt them to slash their “base rates”, the floor interest rate on which lending rates for final home, auto and corporate borrowers are fixed.
    • A lower repo can lead to lower floating home loan rates, which move in tandem with base rates, and bring cheer to consumers, who have been paying large chunks of their income every month towards repaying housing loans.
    • The central bank expects inflation rates to creep up to 6% by January 2016, from the earlier bank forecast of 5.8%, on the back of deficient summer rains and higher service tax rates that have been raised to 14% from 12.36% earlier.
    • On growth, the RBI expects GDP to grow at 7.6% in 2015-16, down from the earlier forecast of 7.8%, although industrial production has been recovering, albeit unevenly.

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