Feb 8, 2017- The Reserve Bank of India on Wednesday in its sixth Bi-Monthly Statement kept the key policy rates unchanged. With the above monetary policy decision of the apex bank, the repo rate (the rate at which banks borrow funds from the RBI) stays at 6.25 per cent.
As per RBI press release, the monetary policy decision of keeping the policy rates unchanged was taken with the objective of achieving consumer price index (CPI) inflation at 5 percent by Q4 of 2016-17 and the medium-term target of 4 percent within a band of +/- while supporting growth. Further, the six members MPC retained the growth target for 2017-18 at 7.40 per cent against the projection of 7.10% in the previous round.
The policy key rates at present are as under.
|CRR (Cash Reserve Ratio)||4.00%|
|SLR (Statutory Liquidity Ratio)||20.50%|
|Reverse Repo Rate||5.75%|
|MSF Rate (Marginal Standing Facility Rate)||6.75%|