Following are the highlights of the mid-term review of the monetary policy by RBI:
* CRR hiked by 0.5 pc to 7.5 per cent from Nov 10
* Bank, repo, reverse repo rates unchanged
* GDP growth outlook unchanged at 8.5 pc for 2007-08
* Inflation to be contained close to 5 per cent in FY’08
* Inflation expectation in range of 4-4.5 per cent
* Medium term objective on inflation is 3 per cent
* Oil companies permitted to hedge foreign exchange on overseas OTC exchange
* Importers and exporters allowed call, put options
* Authorised dealers permitted to offer American Options
* Working group on RRB, core banking roadmap
* Financial aid to RRBs for IT implementation
* Action plan for National Electronic Clearing Service
* Hi-level committee to review lead bank scheme.