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.

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

Books For 2015 Banking/Insurance Exams