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Highlights of RBI monetary policy

Highlights of RBI monetary policy

Mumbai, Apr 4 (PTI) Following are the highlights of the first bi-monthly monetary policy announced by the RBI on Thursday:* Short-term lending rate (repo) reduced by 25 bps to 6 pc;* This is second back-to-back rate cut;* RBI maintains Neutral stance on the monetary policy;* Four out of six MPC members voted in favour of rate cut;* GDP growth projection lowered to 7.2 pc for 2019-20;* RBI revises downward retail inflation estimate to 2.4 pc in Q4 FY19.* MPC notes output gap remains negative and domestic economy facing headwinds;* Next monetary policy statement on June 6. PTI NKD CSBAL