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    <title>Monetary Policy Statement 2013-14</title>
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    <description>The Reserve Bank lowers the policy repo rate by 25 basis points to 7.25% and adjusts related rates while retaining CRR at 4.0%. Growth is projected at 5.7% and WPI inflation around 5.5% with an objective to condition inflation to 5.0% by March 2014. Indicative trajectories are M3 +13.0%, deposits +14.0% and non food credit +15.0%. The Statement pairs monetary easing with active liquidity management and a programme of regulatory measures including Basel III implementation steps, dynamic provisioning, SLR HTM realignment, priority sector revisions and multiple initiatives for financial inclusion, payment systems and market infrastructure.</description>
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    <pubDate>Fri, 03 May 2013 12:45:49 +0530</pubDate>
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