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RBI Monetary Policy Review

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For the second consecutive time, on 31st July,2012 the  Reserve Bank Governor left the key interest rate unchanged to fight inflation, and lowered the growth projection for the current fiscal to 6.5 percent.

However, as a liquidity inducing-measure, the Governor brought down the Statutory Liquidity Ratio (SLR) — the amount of deposits banks park in government bonds — by 1 percent to 23 percent, effective Aug 11,2012. The key lending (Repo) rate, at which banks borrow from RBI, has been retained at 8 percent despite demands from the industry to cut interest rates to spur economic growth.The Cash Reserve Ratio (CRR) – the amount of deposits banks keep with RBI in cash — has also been retained at 4.75 percent.

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3 Responses to “RBI Monetary Policy Review”

  1. Umesh Goyal says:

    Reduction in SLR is not a good step in the long run.

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