First Quarter Monetary Policy (2013-14) Update

July 30, 2013

§        Policy repo rate under the liquidity adjustment facility (LAF) has been kept unchanged at 7.25%.

§        CRR of scheduled banks has been retained at 4% of their net demand and time liabilities (NDTL).

§        The reverse repo rate under the LAF determined with a spread of 100 basis points below the repo rate, stands at 6.25%.

§         The marginal standing facility (MSF) rate remains unchanged at 300 basis points above the repo rate at 10.25%.

§         The Bank Rate stands at 10.25%.