Following are the highlights of RBI's bi-monthly monetary policy statement:
* Short-term lending (Repo) rate unchanged at 8 per cent * Cash reserve ratio (CRR) unchanged at 4 per cent
* SLR cut by 0.50 per cent to 22 per cent to unlock banking funds
* Estimates GDP growth at 5.5 per cent for current fiscal
* Targets 8 per cent CPI inflation by Jan 2015, 6 per cent by Jan 2016
* Lowers banks' SLR holdings in held-to-maturity category by 0.5 per cent to 24 per cent * Govt policies to improve domestic demand, supply conditions
* Higher oil prices, pass-through of administered price increases pose upside risks to inflation
* Monsoons still a concern, posing risks to inflation
* Govt action on food management and fast-tracking project completion to improve supply
* Banking sector reforms will continue
* Next bi-monthly policy statement on September 30.
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