Following are the highlights of the ‘Mid-Quarter Monetary Policy Review: June 2012’ announced by the Reserve Bank of India today.
*No change in key policy rates
*Inflationary pressure still high
*Higher export refinance limit to release Rs 30,000 crore
*Global economic conditions have deteriorated since April
*Domestic economic situation raises several concerns
*Factors besides high rates more responsible for slowdown
*Rupee slide offset impact of fall in crude oil on inflation
*Sticky inflation points to serious supply bottlenecks
*Oil subsidy crowding out public investment
*Slowing capital flows will have adverse impact on India