Monetary policy in 2 minutes

Monetary measures

• 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

Other measures

• 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