Today RBI released sixth Bi-monthly Policy. Most of the policy rates are unchanged except SLR which is reduced to 21.5%. Now banks need to carry less funds and they can lend more. Inflation levels expected to be in range of 5-6%.
RBI increased the remittance limit that is Liberalised Remittance Scheme (LRS) to $250,000 per person per year
Key Policy rate
- Repo rate 7.75%
- Reverse repo rate -6.75%
- Bank rate - 8.75%
- Statutary Liquidity Ratio (SLR) - 21.5% (Decreased by 50 basis points)
- Cash reserve ratio (CRR) - 4%
RBI increased the remittance limit that is Liberalised Remittance Scheme (LRS) to $250,000 per person per year
