RBI Keeps Status Quo On Repo And CRR, SLR Down 100 Basis Points

DSIJ Intelligence / 31 Jul 2012

Reserve Bank of India (RBI) today in its First quarter monetary meet remained Status Quo, unchanging the key Repo rate at 8 per cent. Even the Cash Reserve Ratio (CRR) is maintained at the same level of 4.75 per cent. However Statutory Liquidity Ratio (SLR) was slashed by 100 basis points 23 per cent.

Reserve Bank of India (RBI) today in its First quarter monetary meet remained Status Quo, unchanging the key Repo rate at 8 per cent. Even the Cash Reserve Ratio (CRR) is maintained at the same level of 4.75 per cent.However Statutory Liquidity Ratio (SLR) was slashed by 100 basis points 23 per cent.

Here we would like to take some credit as we at Dalal Street Investment Journal (DSIJ) had given our stance in our earlier write ups that RBI should hold the key rates as Inflationary pressure continues to hover above the economy.

RBI’s Macro economic and Monetary Development report which was released yesterday indicated that the inflation is big worry for the country. RBI has clearly said that the inflation is the focus area now which reiterates what it had said a month ago.

Detailed Analysis and Review of the Monetary Policy is done in the Title named RBI Revises Outlook, Growth Downwards And Inflation Upwards  

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