RBI hikes Repo rate, CRR, SLR, Bank rate
The Monitory Policy Committee (MPC) of Reserve Bank of India in its second Bi-Monthly Statement for 2018-19, announced today (August 1, 2018) increase the policy repo rate under the liquidity adjustment facility LAF) by 25 basis points to 6.50 per cent. Pursuant to increase in Repo rate, the reverse repo rate under the LAF stands adjusted to revised Repo rate.
The policy key rates at present are as under.
|CRR (Cash Reserve Ratio)||4.00%|
|SLR (Statutory Liquidity Ratio) W.e.f June 24, 2017||20.00%|
|Reverse Repo Rate||6.25%|
|MSF Rate (Marginal Standing Facility Rate)||6.75%|
The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.