RBI keeps repo rate unchanged at 8%, slashes SLR by 0.5%

As widely expected Reserve Bank of India Governor Raghuram Rajan kept the key policy repo rate unchanged at 8 per cent as inflation control remained a priority for the central bank.

Key takeaways:

-RBI leaves repo rate unchanged at 8.00 pc
-RBI cuts banks' SLR by 50 bps to 22.5 pc of deposits from June 14 fortnight
-RBI reiterates CPI inflation target of 8 pc by January 2015 and 6 pc by 2016
-RBI sees marginal improvement in economic growth to 5-6% in FY15
- Cash reserve ratio was kept unchanged at 4 per cent