RBI keeps repo rate unchanged in 5th bi-monthly monetary policy review
Reserve Bank of India (RBI) in its fifth bi-monthly monetary policy review has maintained status status quo in key policy interest rate.
The key policy interest rates were kept unchanged on the basis of an assessment of the current and evolving macroeconomic situation in the country.
The Key policy interest rates are
- Repo rate under the liquidity adjustment facility (LAF): unchanged at 6.75 per cent.
- Reverse repo rate under the LAF: unchanged at 5.75 per cent
- Marginal standing facility (MSF) rate and the Bank Rate has unchanged at 7.75 per cent.
- Cash Reserve Ratio (CRR) of scheduled banks: Unchanged at 4.0 per cent of net demand and time liability (NDTL).
- Continuation of liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate.
- Continuation of liquidity under 14-day term repos as well as longer term repos of up to 0.75 per cent of NDTL of the banking system through auctions.
Categories: Banking Current Affairs 2017