RBI monetary policy: Here are key highlights of RBI’s bi-monthly monetary policy

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Mumbai | Updated: October 4, 2017 3:21:33 PM

Following are the highlights of the fourth bi-monthly Monetary Policy Statement 2017-18, issued by Reserve Bank of India:

Reverse repo rate unchanged at 5.75 pc. (PTI)

Following are the highlights of the fourth bi-monthly Monetary Policy Statement 2017-18, issued by Reserve Bank of India:

* Key policy rate kept unchanged at 6 per cent.

* Reverse repo rate unchanged at 5.75 pc.

* Cuts economic growth forecast to 6.7% from 7.3% for FY’18

* Projects inflation at 4.2-4.6 pc in the second half.

* GST implementation rendered prospects for the manufacturing
sector uncertain in the short term.

* Focus on keeping headline inflation close to 4 pc on a
durable basis

* RBI continues to work towards the resolution of stressed corporate exposures in bank balance sheets.

* Recent structural reforms improving business environment, transparency and increasing formalisation of the economy.

* Suggests concerted drive to restart stalled investment projects, enhance ease of doing business, including simplification of the GST to boost growth.

* Suggests rationalisation of “excessively high” stamp duties charged by states, faster rollout of affordable housing programme.

* Next MPC meeting on December 5-6.

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