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Credit Policy Statement for the Year 2009-10

CRR and Interest Rates
(Source: RBI) (% per annum)

Key rates
Jul
2008
Jan
2009
Current
rates
CRR
9
5
5
Repo Rate
9
5
4.75
Reverse Repo
6
3.5
3.25
Bank Rate
6
6
6
Reactions
Comments from fund managers on the rate cut.
..........................................................................................
Full text
Annual policy statement from the Governor of RBI, D. Subbarao
Highlights
• RBI cuts repo rate by 25 basis points to 4.75 per cent
• RBI slashes reverse repo rate by 25 basis points to 3.25%
• The cash reserve ratio retained at 5 per cent
• Bank rate unchanged at 6 per cent
• RBI expects GDP growth for 2009-10 at around 6 per cent
• Inflation pegged at 4 per cent by end-March 2010
• Inflation for medium term expected to be 3 per cent
• Statutory liquidity ratio unchanged at 24 per cent
..........................................................................................
Cheaper loans
Banks would bring down lending and deposit rates after reviewing their asset liability condition.
..........................................................................................
RBI cuts repo, reverse repo rates
The Reserve Bank of India cut its key rates by 25 bps each to shore up faltering growth

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