Highlights: RBI Guv Raghuram Rajan plumps for status quo on policy rates

Written by PTI | Mumbai | Updated: Sep 30 2014, 17:50pm hrs
Reserve Bank Governor Raghuram Rajan today left all key rates unchanged citing increased risks to inflation and difficult external situation especially on the geopolitical front.

HIGHLIGHTS

* Short-term lending (Repo) rate unchanged at 8 per cent

* Cash reserve ratio (CRR) unchanged at 4 pc

* SLR retained at 22 pc to unlock banking funds

* Estimates GDP growth at 5.5 pc for current fiscal

* High Q1 GDP may not be sustained in Q2 and Q3

* Q4 growth outlook looks promising

* Targets 8 pc CPI inflation by Jan 2015, 6 pc by Jan 2016

* Reduces liquidity under export credit refinance from 32 pc to 15 per cent

* Guidelines on small and payments banks by end-November

* RBI to carry forward banking sector reforms

* Next bi-monthly policy statement on December 2