* The benchmark credit interest rate was unchanged at 4 pc
* The Indian economy is expected to contract 9.5% in this fiscal year with downside risks
* Contraction of 9.8 percent projected in July-September; 5.6 percent in October-December and growth rebound of 0.5 percent in the March quarter
* GDP growth for the fiscal quarter from April to June 2021-22 is projected at 20.6 pc
* Maintaining the accommodative stance of monetary policy to support growth
* The Indian economy is entering a decisive phase in the fight against the coronavirus, the focus must shift from containment to reviving the economy.
* Contraction in economic growth from Q1 behind; silver linings are visible
* GDP growth may emerge from contraction into a positive zone for the March quarter of the current fiscal year.
* Inflation will remain high in the September quarter, but will gradually ease towards the target during the December and March quarters
* Projected retail inflation at 6.8 percent for the September quarter
* Hump of temporary current inflation; prospects for agriculture look encouraging, oil prices will remain within
* RTGS fund transfer system for real-time fund transfer that will convert to 24X7 from December
* The threshold for aggregate retail bank loan exposure to a counterparty increased to Rs 7.5 crore from Rs 5 crore
* System-based automatic list of precautions for exporters was suspended to help them negotiate better terms with foreign buyers
* Comfortable liquidity position to maintain; Rs 20,000 crore-OMO auction next week
* Long-term buyback operations (TLTRO) with terms of up to three years will be carried out for Rs 1 lakh crore at a floating rate linked to the policy buyback rate until March 31, 2021
* All MPC members vote to keep the policy buyback rate unchanged and continue with the accommodative stance.
.
