Reserve bank of India has issued monetary policy for the first quarter of 2012-13. In this policy, RBI hasn't changed any interest rate or repo rate which was expected to tab inflation. Full monetary policy is as under.
- contain inflation and anchor inflation expectations;
- support a sustainable growth path over the medium-term; and
- continue to provide liquidity to facilitate credit availability to productive sectors.
- reduce the statutory liquidity ratio (SLR) of scheduled commercial banks from 24.0 per cent to 23.0 per cent of their NDTL with effect from the fortnight beginning August 11, 2012.
- anchor inflation expectations based on the commitment of monetary policy to inflation control; and
- maintain liquidity to facilitate smooth flow of credit to productive sectors to support growth.
July 31, 2012