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RBI Monetary Policy - Text
Some points in that text


III. Monetary Measures
(a) Bank Rate 102. The Bank Rate has been kept unchanged at 6.0 per cent.(b) Repo Rate/Reverse Repo Rate103. The repo rate under the LAF is kept unchanged at 7.75 per cent.104. The reverse repo rate under the LAF is kept unchanged at 6.0 per cent.105. The Reserve Bank has the flexibility to conduct repo/reverse repo auctions at a fixed rate or at variable rates as circumstances warrant.106. The Reserve Bank retains the option to conduct overnight or longer term repo/reverse repo under the LAF depending on market conditions and other relevant factors. The Reserve Bank will continue to use this flexibility including the right to accept or reject tender(s) under the LAF, wholly or partially, if deemed fit, so as to make efficient use of the LAF in daily liquidity management.(c) Cash Reserve Ratio107. The cash reserve ratio (CRR) of scheduled banks is currently at 7.5 per cent. On a review of the current liquidity situation, it is considered desirable to keep the present level of the CRR at 7.5 per cent unchanged.108. The Annual Policy Statement for the year 2008-09 will be announced on April 29, 2008

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