Mumbai :  Following are the highlights of the first bi-monthly monetary policy announced by the RBI on Thursday:

• Short-term lending rate (repo) reduced by 25 bps to 6 pc;

• This is second back-to-back rate cut;

• RBI maintains Neutral stance on the monetary policy;

• Four out of six MPC members voted in favour of rate cut;

• GDP growth projection lowered to 7.2 pc for 2019-20;

• RBI revises downward retail inflation estimate to 2.4 pc in Q4 FY19.

• MPC notes output gap remains negative and domestic economy facing headwinds;

• Next monetary policy statement on June 6.

PTI 

4/4/2019