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RBI maintains status quo, keeps key policy rate unchanged

Following are the highlights of the fourth bi-monthly Monetary Policy Statement 2017-18, issued by Reserve Bank of India: 
* Key policy rate kept unchanged at 6 per cent. 
* Reverse repo rate unchanged at 5.75 pc. 
* Cuts economic growth forecast to 6.7% from 7.3% for FY’18 
* Projects inflation at 4.2-4.6 pc in the second half. 
* GST implementation rendered prospects for the manufacturing sector uncertain in the short term. 
* Focus on keeping headline inflation close to 4 pc on a durable basis 
* RBI continues to work towards the resolution of stressed corporate exposures in bank balance sheets. 
* Recent structural reforms improving business environment, transparency and increasing formalisation of the economy. 
* Suggests concerted drive to restart stalled investment projects, enhance ease of doing business, including simplification of the GST to boost growth. 
* Suggests rationalisation of “excessively high” stamp duties charged by states, faster rollout of affordable housing programme. 
* Next MPC meeting on December 5-6.

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