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RBI releases fifth Bi-monthly Monetary Policy Statement 2016-17

The Reserve Bank of India (RBI) on 7 December 2016 released the fifth Bi-monthly Monetary Policy Statement 2016-17, the first policy review post-demonetisation.
●    The key announcement under the policy was that the policy Repo Rate under the Liquidity Adjustment Facility (LAF) was kept unchanged at 6.25 percent. 
●    This decision was taken on the basis of an assessment of the current and evolving macroeconomic situation.
●    Reverse Repo Rate: Consequently, the Reverse Repo Rate under the LAF remains unchanged at 5.75 percent.
●    Marginal standing facility (MSF) Rate: The MSF rate was also kept unchanged at 6.75 percent.
●    Bank Rate: The Bank Rate also stands at 6.75 percent.
●    The policy decision was taken by Monetary Policy Committee (MPC) of Reserve Bank of India.
●    In the external sector, India’s merchandise exports rebounded in September and October. After a prolonged fall for 22 months, imports rose in October on the back of a sharp rise in the volume of gold imports and higher payments for POL imports.
●    The level of foreign exchange reserves was 364 billion USD on 2 December 2016.

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