Highlights of the Reserve Bank of India''s first Bi-Monthly Monetary Policy Statement for 2016-17:
MAIN HIGHLIGHTS
* Repo rate cut by 25 bps to 6.50%
* CRR kept unchanged at 4.00%
* To cut daily CRR maintenance to 90% of requirement
* Cut in daily CRR maintenance effective from Apr 16
* Cut MSF rate by 75 bps to 7.00%
* Increase reverse repo rate by 25 bps to 6.00%
* Narrow rate corridor to align weighted avg call, repo rates
* To continue to provide liquidity as required
* To progressively cut avg ex ante liquidity gap to near neutral
* Stance of monetary policy will remain accommodative
* To eye developments in months ahead with a view to respond
* To respond with further action in mos ahead as space opens up
* Narrowed rate corridor to align weighted avg call, repo rates
MAIN HIGHLIGHTS
* Repo rate cut by 25 bps to 6.50%
* CRR kept unchanged at 4.00%
* To cut daily CRR maintenance to 90% of requirement
* Cut in daily CRR maintenance effective from Apr 16
* Cut MSF rate by 75 bps to 7.00%
* Increase reverse repo rate by 25 bps to 6.00%
* Narrow rate corridor to align weighted avg call, repo rates
* To continue to provide liquidity as required
* To progressively cut avg ex ante liquidity gap to near neutral
* Stance of monetary policy will remain accommodative
* To eye developments in months ahead with a view to respond
* To respond with further action in mos ahead as space opens up
* Narrowed rate corridor to align weighted avg call, repo rates
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