Hello and welcome to ExamPundit. RBI today released the first Bi-monthly monetary policy of FY 2015-16.

Following are the highlights of RBI’s first bi-monthly monetary policy statement, 2015-16:

  1.  Short-term lending rate (repo) unchanged at 7.5%
  2.  Cash Reserve Ratio unchanged at 4%
  3.  Retains Statutory Liquidity Ratio at 21.5%
  4.  Estimates GDP growth at 7.8% in FY’16, up from 7.5% in FY’15
  5.  Forecasts CPI inflation at 5.8% by March 2016
  6.  CPI inflation to dip to 4% in August 2015
  7.  Hailstorms in March affected 17% of the rabi crop sown area
  8.  Future rate cuts will depend on interest rate reduction by banks
  9.  India better prepared to deal with volatility post US Federal Reserve rate action
  10.  State cooperative banks to be allowed to set up offsite/ mobile ATMs without prior approval from RBI
  11.  RBI to formulate scheme for market making by primary dealers in semi—liquid and illiquid G—Secs
  12.  Second bi-monthly policy statement on June 2, 2015.

Regards



Team ExamPundit



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