Highlights of RBI's monetary policy

Mumbai, Feb 7 (PTI) Following are the highlights of the bi-monthly monetary policy announced by Governor Sanjay Malhotra on Friday: * Repo rate (short-term lending rate) reduced by 25 bps to 6.25 pc; * First rate cut after a gap of 5 years; last reduction was in May 2020; * To continue 'neutral' monetary policy stance; * GDP growth for FY'26 projected at 6.7 pc; * Inflation to come down to 4.2 pc in FY'26 from 4.8 pc in FY'25; * Food inflation pressures likely to see significant softening; * Core inflation expected to rise but remain moderate; * Banks to have 'bank.in' internet domain name, non-banks 'fin.in'; * RBI says global economic backdrop remains challenging; * Indian economy continue to remain strong, resilient; * CAD expected to remain well within sustainable level; * As on Jan 31, India's forex reserves stood at USD 630.6 billion, providing import cover of over 10 months; * Next meeting of Monetary Policy Committee scheduled for April 7-9. PTI NKD DRR

Source: PTI