• Repo rate cut by 0.25 percent to 6.50  percent
  • Reverse repo hiked by 0.25 percent to 6 percent
  • Cash reserve ratio or CRR unchanged at 4 percent
  • Minimum daily cash maintenance by banks with RBI cut by 5 percent
  • MSF rate cut by 0.75 percent to lower banks' borrowing cost
  • Policy to remain accommodative going forward
  • Pegs 2016-17 growth forecast at 7.6  percent
  • Expects inflation at around 5 percent
  • Cut in small savings rate, MCLR introduction to improve monetary policy transmission
  • Government adhering to fiscal consolidation path will help lower inflation
  • 7th Pay Commission award to put upward pressure of up to 1.5 percent on inflation
  • Proposes custodian banks; banks focusing on wholesale and long term financing
  • Second bi-monthly monetary policy on June 7.

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