Following are the highlights of RBI mid-quarterly monetary review conducted for the first time today:
*Ups short term lending (Repo) rate by 0.25 pc to 6 pc
* Ups short-term borrowing (Reverse Repo) rate by 0.50 pc to 5 pc
* Cash Reserve Ratio retained at 6 pc
* Bank rate retained at 6 pc
* Statutory Liquidity Ratio retained at 25 pc
* Actions aimed at containing inflation without hurting growth
* Inflation reached plateau, says RBI
* But it is likely at unacceptably high levels for some months
* 40 banks raised deposit rates, 26 lending rates since July
* Interest rates, after adjusting to inflation, in negative
* Real interest rates should move up to encourage deposits
* Growth remains steady, although industrial growth is volatile
* Monsoon to boost prospects for farm growth
* All indicators point to sustained growth in services.
