RBI policy: Highlights of 2nd bi-monthly monetary policy

Growth forecast for 2017-18 lowered to 7.3 percent from 7.4 percent

|Jun 07, 2017, 15:30:11 IST

Following are the highlights of second bi-monthly monetary policy for 2017-18 as announced by RBI:* Repo rate unchanged at 6.25 percent* Reverse repo unchanged at 6 percent* Statutory Liquidity Ratio cut by 0.5 percent to 20 percent[caption id="attachment_3526955" align="alignleft" width="380"] Reuters[/caption]* Growth forecast for 2017-18 lowered to 7.3 percent from 7.4 percent* Inflation projected at 2-3.5 percent for H1, 3.5-4.5 percent H2, FY18* GST rollout not to have material impact on inflation* Farm loan waivers risk fiscal slippages and inflationary spillovers* 7th Pay Commission allowances, geo political, financial risk pose upside risk to inflation* Need to revive private investment, restore banking sector health, remove infrastructure bottleneck* RBI to work with government to address stress in bank balance sheet* Five MPC members vote in favour of status quo on monetary policy, one had different viewsThe next meeting of Monetary Policy Committee is on 1 August and 2.

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