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.