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    <title>Second Quarter Review of Monetary Policy 2011-12</title>
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    <description>The Reserve Bank maintains an anti inflationary monetary stance while acknowledging growth risks, announcing a calibrated increase in the policy repo rate with corresponding adjustments to reverse repo and MSF rates, retention of the CRR and bank rate, and guidance tying future actions to evolving macroeconomic conditions. Concurrently, it advances regulatory and developmental reforms: deregulation of savings deposit rates subject to uniformity and non discrimination conditions, permission for banks to open branches in specified Tier 2 centres under reporting, creation of NBFC MFI category, and issuance of draft Basel III guidelines alongside market deepening measures.</description>
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