:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

RBI ANNOUNCES MONETARY MEASURES

On the basis of the current assessment and in line with the policy stance, the Reserve Bank announces the following policy measures:

Bank Rate
The Bank Rate has been retained at 6.0 per cent.

Repo Rate
It has been decided to:
increase the repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 5.5 per cent to 5.75 per cent with immediate effect.

Reverse Repo Rate
It has been decided to:
increase the reverse repo rate under the LAF by 50 basis points from 4.0 per cent to 4.50 per cent with immediate effect.

Cash Reserve Ratio
The cash reserve ratio (CRR) of scheduled banks has been retained at 6.0 per cent of their net demand and time liabilities (NDTL).

Expected Outcomes
Monetary policy actions are expected to:
Ø      Moderate inflation by reining in demand pressures and inflationary expectations
Ø      Maintain financial conditions conducive to sustaining growth
Ø      Generate liquidity conditions consistent with more effective transmission of policy actions
Ø      Reduce the volatility of short-term rates in a narrower corridor.
       
Mid-Quarter Review of Monetary Policy 2010-11
The next mid-quarter review of Monetary Policy for 2010-11 will be announced through a press release on September 16, 2010.

Second Quarter Review of Monetary Policy 2010-11
The second quarter review of Monetary Policy 2010-11, including developmental and regulatory policies, is scheduled on November 2, 2010.

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