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Following are the highlights of the Reserve Bank’s Fourth Bi-monthly Monetary Policy statement for 2015-16:
* Cuts interest rate by 0.5 per cent to boost economy
* Repo rate adjusted to 6.75 per cent, lowest in four-years
* Expects banks to pass on entire benefit to borrowers
* CRR remains unchanged at 4 per cent
* GDP forecast for 2015-16 lowered to 7.4 per cent
* Tentative economic recovery underway, far from robust
* Global environment looking weak; not good for India
* Growth likely to pick up in later part of this fiscal
* CPI inflation expected to reach 5.8 per cent in January 2016
* Inflation is likely to go up from September
* FPI investment limit in debt securities to be fixed in rupee term
* FPI investment limit in govt bonds to be hiked to 5 per cent by 2018
* RBI to issue final guidelines on base rate computation by November-end.
* Fifth Bi-monthly Monetary Policy on December 1.
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