RBI’s First Quarter Review of Monetary Policy

• The Repo and Reverse Repo Rate rose by 50bps to 8% and 7% respectively
• Cash Reserve Ratio has been maintained unchanged at 6%
• Wholesale Price Inflation (WPI) estimate for March 2012 was raised to 7% from 6% with an upward bias
• Bank deposits are projected to grow at 17% and non-food credit is projected to reduce from 19% to 18%
• Projection for GDP growth is maintained at 8%