Monetary policy in 2 minutes
Monetary measures
Growth & inflation
- Repo rate, cash reserve ratio kept unchanged
- Statutory liquidity ratio reduced by 50 bps to 22.5%
- Liquidity under export credit finance facility reduced to 32% from 50% of eligible credit outstanding
- Special term repo facility of 0.25% of NDTL
Growth & inflation
- Retail inflation projection for January retained at 8%
- GDP growth for 2014-15 retained between 5 and 6 per cent
- Foreign institutional investors allowed to hedge their exposure plus $10 million in currency derivatives market
- Upped eligibility limit for overseas foreign exchange remittances by Indians to $125,000
- Both residents and non-residents, except of Pakistan and Bangladesh, can carry cash out of country up to Rs 25,000