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Highlights: RBI Monetary Policy 2012-2013

News18

First published: April 17, 2012, 12:52 PM IST | Updated: April 17, 2012
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Highlights: RBI Monetary Policy 2012-2013
The Cash reserve ratio remained untouched at 4.75 per cent.

Mumbai: The following are the highlights of the Annual Monetary Policy for 2012-13 announced by the Reserve Bank of India (RBI) Governor D Subbarao on Tuesday:

* Short term lending rate (repo) lowered by 0.50 per cent to 8 per cent.

* Cash reserve ratio retained at 4.75 per cent.

* GDP growth for 2012-13 projected at 7.3 per cent.

* March-end, 2012-13 inflation expected at 6.5 per cent.

* Bank rate cut by 0.50 pc to 9 per cent.

* Deposit growth pegged at 16 per cent, credit growth at 17 per cent.

* Upside risk to fiscal deficit target of 5.1 per cent.

* Govt borrowing may decrease credit flow to pvt sector.

* Liquidity conditions moving towards comfort zone.

* To issue final guidelines on Basel III by May 2012.

* Tightens norms for lending against gold by NBFCs.

* Next mid-quarterly monetary review on June 18.

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