CURRENT UPDATE : FIRST BI-MONTHLY MONETARY POLICY STATEMENT - 2017-18: RBI

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to:

F Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent.

Consequent upon the narrowing of the LAF corridor as elaborated in the accompanying Statement on Developmental and Regulatory Policies, the reverse repo rate under the LAF is at 6.0 per cent, and the marginal standing facility (MSF) rate and the Bank Rate are at 6.50 per cent.

CURRENT RATES
POLICY RATES	BANK RATE	6.50 %
	REPO RATE	6.25 %
	REVERSE REPO RATE	6 %
	MARGINAL STANDING FACILITY RATE	6.50 %
RESERVE RATIO	CRR	4%
	SLR	20.50 %
LENDING RATE	BASE RATE	9.25% - 9.65%

On the gross value add (GVA) basis, RBI sees the economy accelerating to 7.4 per cent in the current fiscal, up from 6.7 per cent in 2016-17.

The next meeting of the MPC is scheduled on June 5 and 6, 2017.