Reserve Bank of India (RBI) in its fourth bi-monthly monetary policy review for year 2016-17 has cut the repo rate by 25 basis points to 6.25%. This monetary policy decision was taken by the newly constituted Monetary Policy Committee (MPC). This was also Urjit Patel’s maiden monetary policy announcement as RBI Governor.
Rates:
Repo rate under the liquidity adjustment facility (LAF): Reduced by 0.25 basis points to 6.25 percent.
Reverse repo rate under the LAF: It was adjusted to 5.75 per cent.
Marginal standing facility (MSF) and Bank Rate: It was adjusted to 6.75 per cent.
Reserve Ratios Cash Reserve Ratio (CRR) of scheduled banks: Unchanged at 4.0 per cent of net demand and time liability (NDTL).
Statutory Liquidity Ratio (SLR):20.75 per cent.
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