Highlights: RBI's review of Monitary Policy 2012-13

Written by: Pti
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Mumbai, Jul 31: Following are the highlights of the 'First Quarter Review of Monetary Policy 2012-13', announced by the Reserve Bank today:

* RBI leaves key interest rate unchanged.

* Statutory Liquidity Ratio (SLR) cut by 1 pc to 23 pc.

* Growth projection lowered to 6.5 pc from 7.3 pc.

* March-end inflation pegged at 7 pc, up from 6.5 pc.

* Containing inflation remains the main focus.

* Situation in the euro area continues to cause concern.

* CAD, fiscal deficit pose a risk to economic stability.

* Asks government to cut fertiliser and fuel subsidy.

* Open market operations to continue to inject liquidity.

* Mid-Quarter Review of Monetary Policy on Sept 17.

* Second Quarter policy review on Oct 30.


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