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KRChoksey Research Report
Key highlights:
The Reserve Bank of India increased the the policy repo rate under the liquidity adjustment facility by 40 basis points to 4.40% with immediate effect.
The standing deposit facility rate stands adjusted to 4.15% and the marginal standing facility rate and the bank rate to 4.65%.
The Monetary Policy Committee also decided to remain accommodative while focusing on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.
These decisions are in consonance with the objective of achieving the medium-term target for consumer price index inflation of 4% within a band of up/down 2%, while supporting growth.
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