Economic targets revised:
Real GDP growth for 2008-09 is revised downwards to 7.0% from 7.5-8.0% earlier with a downward bias.
WPI inflation expected to decelerate below 3.0% March ‘09 end.
Monetary aggregates revised targets
Target for M3(Broad money supply) growth for FY09 revised to 19.0% from 16.5-17% earlier.
Target for Aggregate deposits growth for FY09 revised to 19.0% from 17% earlier.
Target for Adjusted non-food credit growth for FY09 revised to 24.0% from 20.0% earlier
Monetary measures:
Bank rate unchanged at 6%
Repo rate unchanged at 5.5%
Reverse-repo rate unchanged at 4%
CRR unchanged at 5.0%
Liquidity support facilities (up to 30 June 2009):
For meeting the funding requirements of mutual funds (MFs), nonbanking financial companies (NBFCs) and housing finance companies (HFCs) through relaxation of SLR up to 1.5% of their NDTL.
Special refinance facility for SCBs (excluding RRBs) available up to 1.0% of each bank’s NDTL as on October 24, 2008.
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