Mumbai headquartered Reserve Bank of India announced Fifth Bi-Monthly Monetary policy for the year financial year 2016-17.So, we are presenting you a short notes on Current Rates after Fifth Bi-monthly Policy 2016-17 which is very important for your upcoming banking exams.
Current Rates as announced are:
- Repo Rate – 6.25% (unchanged)
- Reverse Repo Rate – 5.75% (unchanged)
- CRR (Cash Reserve ratio) – 4%
- Bank Rate – 6.75%
- MSF (Marginal Standing Facility) – 6.75%
- SLR (Statutory Liquidity Ratio) – 20.75% (as per RBI official website)
- 6th Bi-monthly review will be on – Feb 7, 2017
Six members voted in favour of the monetary policy decision. The minutes of the MPC’s meeting will be published on December 21, 2016. The next meeting of the MPC is scheduled on February 7 & 8, 2017 and its resolution will be placed on the Reserve Bank’s website on February 8, 2017.
