RBI Bi-Monthly Monetary Policy Sept 2014 – RBI’s bi-monthly monetary policy announced on 30th September 2014 by Reserve Bank of India Governor Shri Raghu Ram Rajan. As per the Industry expectation RBI Governor has kept all the policy rate unchanged.
The Next bi-monthly policy statement of RBI is scheduled on December 2.
All the Policy Rates like Cash Reserve Ration (CRR), SLR, Bank Rate, Repo and Reverse Repo are kept unchanged in order to tame the inflation. The major highlights of RBI Ni Monthly Monetary Policy are :
1. RBI Kept the Short-term lending rate or Repo Rate Unchanged at 8%
2. The Cash reserve ratio (CRR) was also kept unchanged at 4%
3. Statutory Liquidity Ratio ( SLR) retained at 22%. SLR are useful in checking the baking funds.
4. RBI Monetary policy has forcast the GDP growth at 5.5% for current fiscal. It was said that the higher Q1 GDP may not sustain in longer term.
5. RBI Kept CPI inflation to 8% by Jan 2015 and 6% by Jan 2016
6. RBI has reduced the liquidity under export credit refinance from 32 to 15%
7. RBI has promised to issue the guidelines on small and payments banks by end-November
8. RBI has made it clear that they are looking forward in maintaining banking sector reforms
Details Of RBI Monetary Policy September 2014 : Click Here