Following are the highlights of
RBI's fifth bi-monthly monetary policy statement for 2015-16.
* Benchmark policy rate unchanged at 6.75 per cent
* CRR unchanged at 4 pc
* GDP to grow at 7.4 pc in 2015-16; mild downside bias
* Economy in early stages of recovery, weakness persist
* Farm sector subdued; rabi, kharif prospect hit by monsoon
* Retail inflation at 6 pc by January, 5 pc by March 2017
* Inflation uptick for 2 months warrants vigilance
* Open to accommodative monetary policy, keeping inflation
Under control
* Implementation of Pay Panel recommendations to be
Factored in for future policy deliberation
* Banks transmitted only 0.60 pc of 1.25 pc repo rate cut
Benefits to borrowers
* To shortly finalise base rate computation based on
Marginal cost of funds
* Clean up of bank balance sheets will create room for
Fresh lending
* Linking of small savings rate with market interest rates
On anvil, to help in monetary transmission
* Early signs of recovery in pharma, electronic exports
* Sixth Bi-monthly Monetary Policy on February 2.
