Highlights of the RBI's first quarter monetary policy review

MUMBAI (Reuters) - The RBI left interest rates unchanged on Tuesday as it supports a battered rupee but said it will roll back recent liquidity tightening measures when stability returns to the currency market, enabling it to resume supporting growth.

Following are highlights from the monetary policy statement:

POLICY MEASURES

* Keeps repo rate unchanged at 7.25 percent.

* Reverse repo remains at 6.25 percent.

* Cash reserve ratio unchanged at 4.00 percent

* Keeps Marginal Standing Facility rate at 10.25 percent.

* Bank rate stands at 10.25 percent.

POLICY STANCE

* Cash tightening steps to be rolled back in a calibrated manner as stability is restored in forex market

* Can revert to supporting growth with continuing vigil on inflation after reversal of cash tightening steps

* Says time now should be used to institute structural reforms to lower current account deficit

* India's external sector to remain vulnerable to confidence, sentiment in global financial markets

* Policy stance guided by need for continuous vigilance, preparedness to act on external risks

* Says economy's resilience to shocks eroded as most external vulnerability indicators have deteriorated

* Persisting weakness in industrial growth has heightened risks to GDP growth, despite robust monsoon

FORECASTS

* Cuts GDP forecast for 2013/14 to 5.5 pct from 5.7 pct earlier

* Objective is to contain wholesale price inflation around 5 pct by March 2014

* Projects non-food credit growth of banks at 15 percent in 2013/14

* Projects banks' deposit growth at 14 percent in 2013/14

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(Compiled by Shamik Paul; Editing by Ranjit Gangadharan)