The Reserve Bank of India on Tuesday unveiled second quarter review of monetary policy. The central bank raised statutory liquidity ratio, the portion of deposits that banks are required to keep in government securities, by 100 basis points to 25 per cent. Other key rates were unchanged.
Here are the highlights:
- RBI raises statutory liquidity ratio by 100 bps to 25%
- Keeps other key rates unchanged
- Retains GDP growth projection for FY'10 at 6%
- Sees inflation at 6.5% by March end
- Aims to contain inflation at 4-4.5 %
- To announce third quarterly review in January.
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