"The world is waiting for the grand idea of universal toleration. It will be a great acquisition to civilization. Nay, no civilization can long exist unless this idea enters into it. Nо civilization can grow unless fanaticism, bloodshed and brutality stop. Nо civilization can begin to lift up its head until we look charitably upon one another, and the first step towards that much-needed charity is to look charitably and kindly upon the religious convictions of others. May more, to understand that not only should we be charitable, but positively helpful, to each other, however different our religious ideas and convictions may be". - Vedantic Thought for the Month
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VEDANTA MASS MEDIAHighlights of India's monetary policy update
 


            

 

 

 

  
             Highlights of India's monetary policy update

 

 

 

             Indo-Asian News Service

 

 

 

      Mumbai, July 28 (IANS) Following are the highlights of the first quarterly update of India's monetary policy for this fiscal, unveiled by Reserve Bank of India Governor D. Subbarao here Tuesday:

 

      * Bank rate retained at 6 percent

 

      * Repo rate unchanged at 4.75 percent

 

      * Reverse repo rate unchanged at 3.25 percent

 

      * Cash reserve ratio unchanged at 5 percent

 

      * Statutory liquidity ratio unchanged at 24 percent

 

      * Inflation forecast hiked to 5 percent from 4 percent

 

      * Negative inflation only a statistical phenomenon

 

      * Balance between liquidity and inflation main concern

 

      * India's growth now forecast at 6 percent with upward bias

 

      * More scope for cutting rates by commercial banks

 

      * Money supply may grow 18 percent this fiscal

 

      * Policy will ensure enough commercial credit


 

 


     Indo-Asian News Service




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International Yoga Day 21 June 2015
International Yoga Day 21 June 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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