RBI keeps all key rates unchanged

Posted By: Staff
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Mumbai, Jul 28: In its quarterly review of the economy that was released on Tuesday, Jul 28, the Reserve Bank of India (RBI) left all the key rates including the repo rate or lending rate, and the reverse repo rate unchanged.

The reverse repo rate, which refers to the the rate at which it borrows from banks, remains at 3.25 per cent and the lending rate or the repo rate, that is the rate the central bank lends cash to banks, stays unchanged at 4.75 per cent.

The cash reserve ratio which stands for the the amount of cash that banks must set aside with it remains at 5 per cent. The statutory liquidity ratio, or the proportion of deposits banks must keep aside in cash, gold or approved securities is at 24 per cent.

The central bank raised its inflation estimate to 5 per cent for the FY10 and forecast a GDP growth of 6.5 per cent. Both these are higher than the earlier predicted rates of 4 per cent for inflation and 5.4 per cent for GDP growth.

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