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July 31, 2013

Highlights of First Quarter Review of RBI Monetary Policy 2013-14 dated 30th July 2013

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In a meeting with the chief executives of major scheduled commercial banks on Tuesday 30th July 2013 at the Central Office, Reserve Bank of India, Mumbai, the Governor of RBI Dr. D. Subbarao has announced the First Quarter Review of Monetary Policy 2013-14. Check the highlights below. 

Here are highlights of RBI's first-quarter monetary policy review :
  • Repo rate unchanged at 7.25%. 
  • The Reverse Repo Rate stood at 6.25% 
  • Marginal Standing Facility (MSF) and Bank Rate stood at 10.25%
  • Cash reserve ratio too unchanged at 4 percent
  • Cuts GDP forecast for FY'14 to 5.5 percent from 5.7 percent earlier
  • Next mid-quarter review of policy on September 18; second quarter policy review on October 29.
  • This is RBI Governor D Subbarao's last policy before expiry of his five year term.
You can download the pdf file of RBI Monetary Policy 2013-14 first quarter review from here

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