(a)
Bank Rate 102.
The Bank Rate has been kept unchanged at 6.0 per cent. (b)
Repo Rate/Reverse Repo Rate 103.
The repo rate under the LAF is kept unchanged at 7.75 per cent. 104.
The reverse repo rate under the LAF is kept unchanged at 6.0 per cent. 105.
The Reserve Bank has the flexibility to conduct repo/reverse repo auctions at
a fixed rate or at variable rates as circumstances warrant. 106.
The Reserve Bank retains the option to conduct overnight or longer term repo/reverse
repo under the LAF depending on market conditions and other relevant factors.
The Reserve Bank will continue to use this flexibility including the right to
accept or reject tender(s) under the LAF, wholly or partially, if deemed fit,
so as to make efficient use of the LAF in daily liquidity management. (c)
Cash Reserve Ratio 107.
The cash reserve ratio (CRR) of scheduled banks is currently at 7.0 per cent.
On a review of the current liquidity situation, it is considered desirable to
increase the CRR by 50 basis points to 7.5 per cent with effect from the fortnight
beginning November 10, 2007. Third
Quarter Review 108.
The Third Quarter Review of the Annual Policy Statement on Monetary Policy will
be undertaken on Tuesday, January 29, 2008.
also see : I. Assessment of Macroeconomic
and Monetary Developments during the First Half of 2007-08; II.
Stance of Monetary Policy for the Second Half of 2007-08; and
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