RBI 1st Bi-Monthly Monetary Policy FY 2015-16

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
  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.


Team ExamPundit

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