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RBI Monetary policy Jan 2012

RBI reduces CRR rate by 50 bps

·         RBI keeps Repo rate unchanged at 8.5%. Reverse Repo rate and MSF rate which are linked to repo rate are unchanged at 7.5% and 9.5% respectively
·   CRR has been reduced by 50 bps to 5.5%
·   GDP growth forecast for FY12 revised downwards to 7% from 7.6% earlier.
·   Inflation forecast for March 2012 has been retained at 7%.
·   Credit growth forecast for FY12 toned down to 16% from 18% earlier

The RBI polices going forwards would be towards easing of rates