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TMI BlogHighlights of RBI's monetary policy statementX X X X Extracts X X X X X X X X Extracts X X X X ..... Highlights of RBI's monetary policy statement X X X X Extracts X X X X X X X X Extracts X X X X ..... by the RBI on Thursday:* Repo rate reduced by 25 bps to 5.75 pc for third time in a row * Reverse repo rate now stands at 5.50 pc, marginal standing facility (MSF) rate 6 pc * RBI changes policy st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance to accommodative from neutral * Cuts GDP growth forecast to 7pc from 7.2 pc for FY20* Raises retail inflation forecast for Apr-Sept to 3-3.1 pc and 3.4-3.7 pc in Oct-Mar * Projects upward bias ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in food inflation in near term due to rising prices of food items * Forecast risks to inflation trajectory from monsoon uncertainties, unseasonal spike in vegetable prices, crude oil prices, financi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al market volatility and fiscal scenario * Waives RTGS and NEFT charges to promote digital transactions * Sets up a panel to review ATM charges, fees levied by banks * To issue draft guidelines for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 'on tap' licensing of small finance banks by Aug * Flags sharp slowdown in investments, moderation in private consumption growth as concern * All six MPC members voted in favour of 0.25 pc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... policy rate cut * Average daily surplus liquidity in the system at ₹ 66,000 crore in early June * Foreign Exchange Reserves stood at USD 421.9 billion on May 31, 2019 * Next monetary policy s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tatement on August 7. X X X X Extracts X X X X X X X X Extracts X X X X
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